Borrowing cap scrapped

There was broad media coverage of Theresa May’s  speech at the Conservative Party Conference, during which she announced that she is lifting the borrowing cap on local councils to help solve the housing crisis.

Scrapping the cap means that £1 billion extra could be available to local councils to assist in the building of thousands of new homes around the country.

Currently, there are 191,000 households on rural authority waiting lists, but only 990 new homes for social rent were built last year in those areas.

The Campaign to Protect Rural England praised the move: ‘This announcement is welcome news for rural communities in particular who have long required a step change in the delivery of social housing.’

Full articles:

→ The Independent - Theresa May lifts borrowing cap on local councils to help 'solve housing crisis'

→ The Daily Mail - Thousands of council houses to be built as Theresa May lifts borrowing cap for town halls


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