Councils will be able to build up to 10,000 homes a year after prime minister Theresa May scrapped the Housing Revenue Account (HRA) borrowing cap, the housing secretary has said.
Writing in The MJ this week, James Brokenshire said the long called for changes revealed at the Conservative Party conference last week would double the rate of council housebuilding.
Local Government Association chairman Lord Porter said he ‘teared up’ at the announcement after working to scrap the borrowing cap for more than a decade.
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