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ARCH annual report

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The ARCH annual report for 2015-16 is now available to view.

 

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DCLG consult on proposed amendments to Capital Finance Regulations 17/02/2017

The Department for Local Communities and Government (DCLG) has issued consultation on proposed amendments to Capital Finance Regulations impacting on the share of the capital receipts arising from right to buy (RTB) receipts that councils are required to pay to HM Treasury. The formula for calculating this has been in place since 2012 and expires on 31 March this year.

 

This consultation proposes that receipts paid to HM Treasury for the next four years should be calculated essentially on the same principles as previous years.

 

The headline announcements in the Consultation Paper are:

 

  • To keep the total "government share" at £183million (i.e. the same as in 2015/16 and 2016/17
  • Not to change the formula used for apportioning RTB receipts but to extend it to 2020/21 using the assumed RTB sale numbers included in the original HRA Self-financing settlement of 2012.

 

DCLG are not seeking views on the principle of pooling receipts but on the proposed amendments to the Capital Finance Regulations. The closing date for responses is 3 March 2017.

 

ARCH member councils are advised to discuss the implications of the proposed amendments on their Housing Revenue Account Business Plans and copy their responses to the consultation to ARCH Policy Adviser, Matthew Warburton: Matthew.Warburton@arch-housing.org.uk

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