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ARCH annual report


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Removal of HRA borrowing – draft determination issued 25/10/2018 Labelled as Development, Regulation

Following the Prime Minister's announcement of the scrapping of the HRA borrowing Cap, the Government has moved quickly to issue a draft determination ahead of the Budget on Monday 29 October.


In a letter to local authority Chief Executives dated 18 October from the Secretary of State, Rt Hon James Brokenshire MP to local authorities, the Ministry of Housing sought views by 24 October on the wording of a draft determination under the Local Government & Housing Act 1989, abolishing the Housing Revenue Account cap.


The Government intends to remove the borrowing cap by issuing a determination, revoking previous determinations that specified a local authority's limit on indebtedness. The letter confirms the Government's intention to remove the borrowing cap as soon as possible, with further details to be confirmed in the Chancellor's Budget on 29 October 2018.

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