May scraps cap on council borrowing to build - property reacts

Theresa May NHF Conference 2 c Flickr Number 10

Theresa May has said the government will lift the cap on how much money councils can borrow to build new homes in her keynote speech to the Conservative Party Conference in Birmingham.

The prime minister acknowledged that councils had made a big contribution to housing “the last time Britain was building enough homes” but that the borrowing cap was now “holding many of them back”.

“Solving the housing crisis is the biggest domestic policy challenge of our generation,” May said. “It doesn’t make sense to stop councils from playing their part in solving it. So today I can announce that we are scrapping that cap.”

This content is only available to registered users

You must be logged in to continue

Gated access promo

Would you like to read more?

Register for free to finish this article

Registration includes the following benefits:

  • Access up to four FREE articles per month
  • Breaking news, comment and analysis from industry experts as it happens
  • Choose from our portfolio of email newsletters

To access this article REGISTER NOW

Four articles not enough? SUBSCRIBE for unlimited access to over 100 weekly articles and our comprehensive archive. For as little as £5 per week.

Registered users and subscribers SIGN IN here to continue