Rent Rise Council in £30m Housing Pledge

A council is raising rent by 7 per cent but increasing investment in its housing stock by almost £9 million. Basildon Council in Essex announced in its Housing Revenue Account budget, that total spending on its 11,321 homes in 2012/12 will be £30 million. According to the council, spending on housing for the previous financial year was just over £21 million. A switch to self financing means the authority has to raise rents this year to service some of the £52 million debt which must be paid to the Communities and Local Government department by 28 March. Read more on the Basildon Council website.