Council Housing: Construction
(asked on 11th January 2018) - View Source
Question to the Department for Levelling Up, Housing & Communities:
To ask the Secretary of State for Housing, Communities and Local Government, if he will lift the cap on borrowing by Leeds City Council for new council housing.
Answered by
Rishi Sunak
Prime Minister, First Lord of the Treasury, Minister for the Civil Service, and Minister for the Union
This question was answered on 19th January 2018
At Autumn Budget the Chancellor of the Exchequer announced that we will raise the Housing Revenue Account borrowing cap by a total of up to £1 billion in areas of high affordability pressure for local authorities that are ready to start building new homes. Local authorities will be able to bid for increases in their caps from 2019/20, up to a total of £1 billion by the end of 2021/22. We will set out more details shortly.