Local authorities took control of council housing rental income from the Treasury this week, leading to an average 14% more funding for affordable housing, the Local Government Association (LGA) claims.

In exchange, the Treasury is loading debt on councils based on future projected rental income, with 130 councils taking on around £13bn worth of debt, while 35 are having loans of £6bn paid off by the Government. Cllr Clyde Loakes, vice-chair of the LGA's environment and housing board, said the move represented an ‘important commitment to localism and decentralisation'.