Spring Statement

Baroness Morgan of Cotes Excerpts

Tuesday 13th March 2018 Commons Chamber

[Mr Speaker]

Order. I gently remind the House that, whatever impression might have been given so far, this is not a debate; it is a question and answer session following a ministerial statement.

[Nicky Morgan (Loughborough) (Con)]

I congratulate the Chancellor on his balanced approach. He and the Prime Minister have rightly identified housing as an economic and social priority. He will be aware that the Treasury Committee’s report on his autumn 2017 Budget recommended that the housing revenue account borrowing cap could be lifted to allow local authorities to play their part in building the right homes in the right places. Is that something he will consider?

[Mr Hammond]

I am grateful to my right hon. Friend. We have already relaxed the borrowing cap for local authorities in areas with high demand and low affordability. We will monitor the consequences carefully and keep how it delivers under continuous review.