HRA cap (1)

Meeting: 
MQT on 2017-12-14
Session date: 
December 14, 2017
Reference: 
2017/5092
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Do you think that the Government's failure to lift the Housing Revenue Account (HRA) cap for all London councils was an opportunity missed to increase housing supply in the capital?

Answer

Answer for HRA cap (1)

Answer for HRA cap (1)

Answered By: 
The Mayor

Absolutely. We cannot deliver the 66,000 homes that London needs by relying on the existing homebuilding model alone; we need to diversify the range of organisations that build homes in London, and I want councils to be at the heart of that. However, Government has said it will only allow the limited lifting of borrowing caps in specific circumstances and this falls woefully short of what could be delivered if HRA caps were scrapped entirely.