Laura Sharman 29 October 2018

Budget 2018: HRA cap officially scrapped

The Housing Revenue Account (HRA) borrowing cap has been officially abolished today, allowing councils to build up to 10,000 homes a year.

The scrapping of the cap, which was announced earlier this month by prime minister Theresa May, could enable councils to take on between £10-15bn in extra debt according to Savills.

The chancellor also used his Budget speech to allocated an further £500m to the Housing Infrastructure Fund to unlock 650,000 homes.

Mr Hammond also outlined plans for the next wave of strategic partnerships with nine housing associations to help deliver an additional 13,000 homes.

Up to 500 neighbourhoods will also be ‘empowered’ to help local people buy homes at a discounted rate.

He said: 'We’re providing funding to empower up to 500 neighbourhoods to allocate or permission land for housing, through the neighbourhood planning system, for sale at a discount to local people in perpetuity.'

SIGN UP
For your free daily news bulletin
Highways jobs

Head of Democratic Services, Elections & Monitoring Officer

Harborough District Council
Grade 12 £67,236 – £71,223 plus £3000pa Statutory Officer Allowance
We are looking for an accomplished and proactive leader for our vacant post of Head of Democratic Services & Elections Market Harborough, Leicestershire
Recuriter: Harborough District Council

Social Worker

Durham County Council
£35,412 - £39,152 (pre-progression) / £40,777 - £45,091 (post-progression)
We are looking for social workers who have completed the assessed and supported year in employment to join our Families First teams, working with our Durham
Recuriter: Durham County Council

Social Worker

Durham County Council
Grade 9 £35,412 - £39,152 (Pre-Progression) / Grade 11 £40,777 - £45,091 (Post-Progression)
Are you a nurturing social worker passionate about supporting parents so that children can remain with their birth family?     This could be the right Durham
Recuriter: Durham County Council

Administrative Officer

Durham County Council
Grade 4 £25,583 - £26,824
An exciting opportunity has arisen for a Administrative Officer to join our busy, friendly team, supporting Children and Young People’s Services. 1 x Spennymoor
Recuriter: Durham County Council

Lunchtime Play Worker

Durham County Council
£24,796 pro rata
Lunchtime Play Worker Grade 1 £24,796 pro rata Part Time - 6.25 hour per week, Monday – Friday
Recuriter: Durham County Council
Linkedin Banner