DCN RESPONDS TO ANNOUNCEMENT ON LIFTING THE HOUSING BORROWING CAP

Responding to an announcement today by Theresa May that the housing borrowing cap will be lifted, Cllr John Fuller, Chairman of the District Councils’ Network (DCN), said:

“The Government expects district councils, as the planning and housing authorities, to manage their local housing markets to benefit people at all stages of their lives.

“Finally the Government has recognised that councils need the fiscal tools to manage their housing markets by lifting the housing borrowing cap. We welcome this important new power which the DCN has long called for.

“Many councils with extensive housing potential, often surrounding the largest cities, have transferred their own stock to registered social landlords and therefore don’t have housing revenue accounts. These Districts should not miss out on the opportunity to build the homes this country badly needs.”

ENDS

District Councils’ Network media office, 020 7664 3333