Responding to the Prime Minister’s announcement that the housing revenue account borrowing cap will be scrapped, LGA Liberal Democrat Group Leader Councillor Howard Sykes said:
“Finally the Government has accepted the long standing call put forward by both the Liberal Democrats and the LGA that the housing borrowing cap should be scrapped. Councils have a key role to play in providing new homes for genuinely affordable rent and this will help them to do this.
“Our national housing shortage is one of the most pressing issues we face and increasing the provision of socially rented and affordable housing is an important part of solving the housing crisis.”
Liberal Democrat Leader Vince Cable added:
“We are pleased to see the Prime Minister finally lift the borrowing cap on councils so they can build houses, a policy I and my Liberal Democrat colleagues pushed for in coalition. The Conservatives’ long-held resistance to this sensible, pragmatic policy has only deepened the housing crisis.”
ENDS