Cable Accuses Tories of Blocking Council House Building

Vince Cable, the business secretary, has accused his Tory coalition partners of blocking a Liberal Democrat plan to allow more council homes to be built through a relaxation of local authority borrowing rules.  The Lib Dems believe that councils could build up to 25,000 homes if they were allowed to pool their borrowing limits, releasing up to £2.8bn.  In a speech to the Social Liberal Forum Cable said this plan "opens up the possibility of sensible public borrowing to revive the depressed construction industry and to meet desperate housing need".  But the Lib Dems are being blocked by "Tory dogma", he said.  "The Tories are hiding behind Treasury methodology, saying that more borrowing by councils beyond permitted limits will break the fixed rules.’ Read more on the Guardian website.