Five councils would take on more than £1.5 billion worth of additional debt between them under government plans to revamp the entire housing finance system. Wandsworth, Barking and Dagenham, Birmingham, Dudley and Welwyn Hatfield would take on £1.6 billion of additional debt, according to preliminary analysis of the proposals by law firm Trowers & Hamlins. Welwyn Hatfield is the constituency of Conservative shadow housing minister Grant Shapps. Under the plans, the existing £25 billion local authority debt will be redistributed among all councils in the subsidy system. Read the full story on the Inside Housing website.
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