Public spending on housing - subsidising rents vs. capital investment

Meeting: 
MQT on 2015-06-17
Session date: 
June 17, 2015
Reference: 
2015/1717
Question By: 
Stephen Knight
Organisation: 
Liberal Democrats
Asked Of: 
The Mayor

Question

Are you happy with the current balance of public spending between subsidising rents and capital investment in affordable housing across London?

Answer

Answer for Public spending on housing - subsidising rents vs. capital investment

Answer for Public spending on housing - subsidising rents vs. capital investment

Answered By: 
The Mayor

I have consistently called for greater capital investment in affordable housing supply in London, which would enable us to gradually reduce our reliance on housing benefit over time - though only with significant up-front capital investment.

My case for increased capital investment is set out in detail in my London Housing Strategy, and includes proposals for increased borrowing capacity for London boroughs and the devolution of property taxes to London to fund our own investment in affordable housing.