Housing: Social and Affordable Rents

Lord Shipley Excerpts

Monday 11th September 2017 Lords Chamber

[Lord Bourne of Aberystwyth]

My Lords, the noble Lord raises an interesting point. Affordable housing is at about 80% of market rates. That is the rough assessment.

[Lord Shipley (LD)]

My Lords, I remind the House of my entry in the register of interests. Is the Minister aware that the number of government-funded new homes built for social rent fell in 2016-17 to just 1,102? Does he agree that there is a much bigger role for local government in driving forward the building of social housing? Will the Government lift the cap on borrowing so that local authorities can build a great deal more social homes for rent?

[Lord Bourne of Aberystwyth]

My Lords, the noble Lord will be aware that there is a difference between social housing and social rents. The amount of social housing is something to which we have committed in the White Paper, and we are looking at that. As I indicated, we are discussing the situation in London with the London mayor. In the meantime, most social housing—about 94%, I think—is at social rents. The noble Lord referred to the borrowing limit. At the moment, there is plenty of headroom for local authorities in that regard, and there is no indication that it needs raising. We are obviously alive to the fact that in the future that might be the case but it certainly is not at the moment.