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.'

What’s happening inside the LGPS? image

What’s happening inside the LGPS?

Get the most informed take on the challenges and opportunities that substantial reform will bring at this year’s PLSA Local Authority Conference.
SIGN UP
For your free daily news bulletin
Highways jobs

Senior Project Manager (Regeneration)

West Yorkshire Combined Authority
£49,359 to £56,057 per annum (pay award pending) – Grade 9
With ambitious goals ahead, we need dedicated individuals who are ready to make a real impact as part of our expanding Housing team Leeds / Hybrid
Recuriter: West Yorkshire Combined Authority

Information Governance Officer

Essex County Council
£28349.00 - £33351.00 per annum + pension
Information Governance OfficerPermanent, Full Time£28,349 to £33,351 per annumLocation
Recuriter: Essex County Council

Information Governance Officer

Essex County Council
£28349.00 - £33351.00 per annum + pension
Information Governance OfficerFixed Term, Full Time£28,349 to £33,351 per annumLocation
Recuriter: Essex County Council

HR Advisor - Pay & Policy (Career Grade)

Wakefield Council
Grade 9 - Grade 10, Career Grade, 24 hours, Permanent
Are you ready to make a difference and shape policies that foster a high performing and inclusive workplace? Wakefield, West Yorkshire
Recuriter: Wakefield Council

Leisure Support Assistant

Wakefield Council
£12,013.50 - £12,202.00, Grade 3, 18.5 hours, Permanent
Are You Ready to Make a Difference in Your Community? Wakefield, West Yorkshire
Recuriter: Wakefield Council
Linkedin Banner