HRA cap (2)

Meeting: 
MQT on 2017-12-14
Session date: 
December 14, 2017
Reference: 
2017/5093
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

What impact do you believe the Government's proposed changes to the HRA borrowing cap will have in London, as councils must bid to borrow from a total fund of just £1 billion and will have to wait until 2019/20 to use any additional powers they are granted?

Answer

Answer for HRA cap (2)

Answer for HRA cap (2)

Answered By: 
The Mayor

It is too early to say at this stage what the impact will be, but £1 billion on its own (and which will have to be shared across the whole country) is insufficient to deliver the step-change in council homebuilding that London needs.