Local Government: Borrowing
Commons · Question 5711 · Tabled 12 Sep 2024 · Ministry of Housing, Communities and Local Government · Official record
Answered 10 Oct 2024
Question
Asked by Helen Morgan
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.
Answer
Answered by Matthew Pennycook, 10 Oct 2024
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 suppo...