7 March 2017
Ahead of the Spring Budget, CPA with sister organisation WPA has signed an open letter asking the government to honour its white paper commitment to help local authorities to build the new homes this country needs.
Coordinated by Centre for London the letter has a number of signatories and relates to the publication of the research piece ‘Strength in Numbers: Funding and Building More Affordable Homes in London‘ also supported by WPA and CPA. The letter to the government states:
- We need the government to allow prudential borrowing against rental revenues (rather than capping this on the basis of historical debt levels), and to rethink reforms such as forced sale of high value council housing, to provide a stable environment for borrowing.
- We are asking the government to relax restrictions on the use of right-to-buy receipts, including extending the period within which they can be spent and increasing the proportion of the cost of a new home they can fund.
- We believe that there should be flexibility to spend funds (right-to-buy receipts, borrowing and developer contributions) across borough boundaries to facilitate enhanced collaboration and deliver greater quantities of affordable housing across London.