Housing Revenue Account - borrowing limits

MQT on 2013-03-20
Session date: 
March 20, 2013
Question By: 
Caroline Pidgeon
Liberal Democrats
Asked Of: 
The Mayor


Following the government's confirmation that it has 'no immediate plans to devolve additional powers specifically to the Mayor of London' - and its rejection of your recent request for £1.3 billion a year to tackle London's housing crisis - what discussions have you had with the Department for Communities and Local Government about aligning boroughs' housing borrowing cap with the Treasury's prudential borrowing rules?


Answer for Housing Revenue Account - borrowing limits

Answer for Housing Revenue Account - borrowing limits

Answered By: 
The Mayor

There has been on-going discussion between the GLA and DCLG on this issue, and I will continue to make the case to Government to remove boroughs' borrowing caps for housing purposes. London will also benefit from a minimum of £750 million for housing, as a result of the Budget.