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MHCLG issues further advice on HRA Borrowing Programme 30/08/2018 Labelled as Development, Finance, Legislation

As promised, following their attendance at the recent ARCH New Build Network meeting, officials at the Ministry of Housing, Communities and Local Government have now issued a list of FAQs (Frequently Asked Questions) to aid those councils considering bids for increases in their HRA borrowing headroom, under the government's HRA Borrowing Programme.

 

The deadline for submission of bids under the Programme is 7 September 2018.

 

It is significant that the recently published Social Housing Green Paper states that the government:"will use the new £1billion borrowing programme to measure the appetite and ambition of local authorities and their effectiveness at building new homes, with a view to considering whether further reforms are needed".

 

If the stock retained sector is to convince Ministers (and Treasury in particular) that there should be a more general lifting of HRA debt caps, it is vital that those councils eligible to bid under the recently announced £1billion HRA Borrowing Programme do so and ensure that the Programme is not undersubscribed.

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