HRA cap (3)

Meeting: 
MQT on 2017-12-14
Session date: 
December 14, 2017
Reference: 
2017/5094
Question By: 
Tom Copley
Organisation: 
Labour Group
Asked Of: 
The Mayor

Question

Do you believe the Government's proposed changes to the HRA borrowing cap match the aspirations of London councils which are delivering new social homes for the first time in decades and have ambitions to do far more?

Answer

Answer for HRA cap (3)

Answer for HRA cap (3)

Answered By: 
The Mayor

No. Scrapping the cap on borrowing enitirely would allow councils to make decisions about investment in housing in their areas within the context of a prudential borrowing framework. Combined with other resources, it would allow them to build far more of the genuinely-affordable homes that Londoners so desperately need.