Billions of pounds in potential housing investment are
being shored up by councils for fear of further changes to rent-setting rules.
A survey of 141 councils that run social housing found just 43% have made use
of their official permission to borrow more money for housing since 2012. As a
result of this widespread reticence, these 141 councils’ collective borrowing
power has actually increased from £2.5bn in 2012 to £2.6bn in 2016/17 amid
urgent demand for new housing across England. The findings are the most
extensive analysis of the multibillion pound borrowing powers awarded to
councils as part of the coalition’s historic Housing Revenue Account (HRA)
self-financing settlement. Read more on Inside Housing.
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