Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential impact of cancelling Housing Revenue Account debt held by local authorities on the economy.

As a government, we recognise the pressures facing councils. That is why we have taken action including a ten-year social housing rent settlement, reinstating rent convergence, reforming Right to Buy, and investing £39 billion through the Social and Affordable Homes Programme. Through the programme, we will make sure that councils are able to access more of the funding available.

We will continue to work with councils and the wider sector to understand barriers to council housebuilding.