LGA secures housing win with lifting of borrowing cap

It has been met with widespread acclaim across the housing sector, alongside cross-sector praise for the efforts of the LGA and Lord Porter in getting the move to happen.

Delighted Lord Porter was in the hall for the PM’s speech. He said: “Today’s speech by the Prime Minister shows that the Government has heard our argument that councils must be part of the solution to our chronic housing shortage.

“It is fantastic that the Government has accepted our long-standing call to scrap the housing borrowing cap. We look forward to working with councils and the Government to build those good quality, affordable new homes and infrastructure that everyone in our communities need.

“Our national housing shortage is one of the most pressing issues we face and it is clear that only an increase of all types of housing – including those for affordable or social rent – will solve the housing crisis. The last time this country built homes at the scale that we need now was in the 1970s when councils built more than 40 per cent of them.

“Councils were trusted to get on and build homes that their communities needed, and they delivered, and it is great that they are being given the chance to do so again.”

Councils are determined to ensure the promises become detail in the Chancellor’s Budget as soon as possible. The LGA will be campaigning over coming weeks to ensure that local authorities are able to borrow to build, free from restrictions, so the renaissance in council house building we need becomes a reality.

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