Government Sets Date To Lift Borrowing Cap

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.

https://newstartmag.co.uk/articles/government-sets-date-to-lift-borrowing-cap/