Local Government: Borrowing
The question
To ask the Secretary of State for Housing, Communities and Local Government, what assessment she has made of the potential merits of allowing Councils to borrow from the Public Works Loan Board at discounted rates in order to build homes for social rent.
Answered by Matthew Pennycook
Local authorities already have access to a preferential rate from the Public Works Loans Board to support housebuilding in the Housing Revenue Account. The preferential rate of gilts +0.4% is available until June 2025. The Government is committed to supporting councils to build their capacity and invest in new social rented homes.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →