«Breaking News» Councils will be allowed to borrow billions more to build new affordable homes

Councils will be allowed to borrow more money to build new homes, Theresa May announced today.

The PM said councils would no longer be capped on how much they can borrow against their Housing Revenue Account assets – effectively loaning against their property to free up cash to build homes.

Local government leaders welcomed the move today and signalled it would unlock a new wave of housebuilding in the UK.  

Councils will be allowed to borrow more money to build new homes, Theresa May (pictured making her conference speech) announced to Tory activists today 

Tory sources said the cap on borrowing was cited by many councils as the biggest thing stopping them from building new council homes.

They said that in the 1980s some local authorities were able to build 10,000 homes a year - but that in some cases this had fallen into the hundreds. 

Mrs May told the conference: 'Solving the housing crisis is the biggest domestic policy challenge of our generation.

'It doesn't make sense to stop councils from playing their part in solving it. So today I can announce that we are scrapping that cap.

'We will help you get on the housing ladder and we will build the homes this country needs.'

The new policy is on top of the £9billion Affordable Housing Programme for councils and £2billion in Government cash to fund affordable homes.  

Local government leaders welcomed the move today and signalled it would unlock a new wave of housebuilding in the UK (file image) 

Chartered Institute of Housing director of policy and external affairs Gavin Smart said: 'This is excellent news and we look forward to seeing the detail.

'We have been calling on the government to lift the local authority borrowing cap to help councils build more genuinely affordable homes so it's great to see the Prime Minister listening to the voice of housing professionals.

'If we are to have any hope of tackling our national housing crisis, councils must play a critical role and this move will help them reach their potential.'

Lord Porter, Chairman of the Local Government Association, said: “Today’s speech by the Prime Minister shows that the Government has heard our argument that councils must be part of the solution to our chronic housing shortage.

“It is fantastic that the Government has accepted our long-standing call to scrap the housing borrowing cap.

'We look forward to working with councils and the Government to build those good quality affordable new homes and infrastructure that everyone in our communities need.' 
 

hienalouca.com

https://hienalouca.com/2018/10/03/councils-will-be-allowed-to-borrow-billions-more-to-build-new-affordable-homes/
Main photo article Councils will be allowed to borrow more money to build new homes, Theresa May announced today.
The PM said councils would no longer be capped on how much they can borrow against their Housing Revenue Account assets – effectively loaning against their property to free up cash to build h...

It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.

Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.

Dianne Reeves Online news HienaLouca





https://i.dailymail.co.uk/1/2018/10/03/13/4728548-0-Councils_will_be_allowed_to_borrow_more_money_to_build_new_homes-m-13_1538571290000.jpg