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23rd November 2017

Statement from Martin Swales, Solace spokesperson on Economic Prosperity and Housing, on the housing borrowing cap announcement in the 2017 Budget

This is a statement from Martin Swales, Solace Spokesperson for Economic Prosperity and Housing, in response to the announcement in the 2017 Budget on the housing borrowing cap:

“Solace agree with the Government that we need to see a big increase in all types of homes being built. History has shown us that we can only achieve those house building targets when local authorities play an active role.

Solace has long argued that Housing Revenue Account borrowing caps should be removed to allow Local Authorities to borrow prudentially and deliver the housing their communities need. It is good news that the Chancellor had listened to us and will leave the cap for some councils. However, this shouldn’t just be restricted to a few authorities where the difference between incomes and prices is highest; but should be an opportunity for all authorities to help solve our national housing crisis.”