Council applauds government’s decision to remove housing cap
Yesterday, the government announced its plans to scrap the current cap on how much local authorities can borrow against the value of their housing stock.
Winchester City Council Conservative Leader and Portfolio Holder for Housing, Cllr Caroline Horrill, welcomes the announcement:
The need for affordable housing across the Winchester district has never been greater and the borrowing cap has been a massive constraint on the council’s ability to build the houses we so desperately need.
Providing affordable housing is at the forefront of the council’s strategy. We have an ambitious plan to build 600 homes by 2020 and are constantly looking for ways to increase this number, including actively lobbying the government.
Only last month, we submitted a bid for more than £25m of extra government funding in areas of high affordability pressure. The government’s plan to lift the borrowing cap entirely should allow us to build even more new homes so local people can enjoy the benefits of living in the district.