Councils’ Housing Revenue Account (HRA) borrowing caps
will be scrapped in less than two weeks’ time, a government document has
revealed. Communities secretary James Brokenshire has written to the chief
executives of all stock-retaining local authorities presenting a draft plan for
removing the cap. Measures outlined in the document will come into force on 30
October, the day after the Autumn Budget. HRA borrowing will be restricted by
the Prudential Code only. Read more on the Newstart website.
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