Theresa May has lifted the cap on how much councils can borrow against their Housing Revenue Account assets – but more problems lie ahead, says Heather Jameson
Shimmying on to centre stage to everyone’s favourite disco anthem, Dancing Queen, Theresa May captured the attention of the political classes with her self-mockery and assurance at this year’s Conservative Party conference. But her speech was much more than a moment of fun for local government.
Instead, it marked a major shift in housing policy, lifting the cap on how much councils can borrow against their Housing Revenue Account (HRA) assets.
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