Our comment on PM Theresa May’s removal of council borrowing cap
Theresa May’s speech contained some positive news for the housing sector. Freeing up council-owned land for housing is vital to meeting the UK’s development targets, as is empowering those councils to build more. Enabling them to borrow more against their housing revenues to fund development is a step in the right direction that will help boost delivery.
Councils are not as active in housebuilding as they used to be and ramping up development will require expertise that, perhaps, isn’t as prominent in local government as they once were. Collaboration with the housing sector will be crucial to making the most of the cap removal.
We’re looking forward to working with councils to help them boost build rates and ensure a healthy provision of affordable housing as part of our own commitment to building 11,800 homes between now and 2025.
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