Councils To Use Borrowing Powers To Accelerate Homebuilding Programmes

Last year, the Government accepted the LGA’s call to scrap the housing borrowing cap. The LGA’s new survey shows the move will support the delivery of local housing with 94 per cent of housing stock-owning councils (59) saying they will use the new powers to accelerate or increase their housebuilding programmes to build homes desperately needed in their communities. The number of homes built for social rent each year has fallen from over 40,000 in 1997 to 6,000 in 2017. The LGA said this decline has resulted from the policies of successive governments, such as rules and restrictions hampering the ability of councils borrowing to build. Read more on the LGA website.

https://www.local.gov.uk/about/news/lga-survey-councils-use-borrowing-powers-accelerate-homebuilding-programmes