The Liberal Democrat Parliamentary Candidate for Cambridge, Rod Cantrill has welcomed the House of Commons Treasury Select Committee’s Autumn Budget 2017 Report that was published today. The report calls for the government to remove the Local Authority Housing Revenue Account borrowing cap to enable councils such as Cambridge to build more council houses.
Rod Cantrill commented:
“We all know that the housing market in Cambridge and the surrounding area is broken. Residents can’t afford to rent let alone buy in the city. Although the £70m of devolved funding Cambridge has received is allowing the council to build 500 council houses, this will only address part of the need. The scale of the need is highlighted by the some 2,500 households who are currently on the Housing Needs Register.
By lifting the cap on borrowing the government has imposed, Cambridge City Council would be able to borrow funds to build enough new council houses to meet this need. I will continue to call for the government to remove the cap as soon as possible so that Cambridge can build these much need new homes.”