Call for Councils to Get Same Borrowing Powers As Housing Associations

The Chartered Institute of Housing said it will campaign for a change in borrowing rules that would allow councils to get the same powers as housing associations.  The scrapping of the Housing Revenue Account (HRA) gives councils the chance to plan their housing budget for the first time since the Second World War.  However, Steve Partridge, director of financial policy and development at CIH, said the CIH would continue to campaign to give stock-owning councils the same borrowing rights as housing associations.  He said:  “We will continue to campaign to change arcane borrowing rules, which do not allow sensible and prudent investment by councils in line with their housing association colleagues.  Investment in affordable council-owned housing is good for communities, good for the economy and good for jobs.” Read more on the CIH website.