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Housing Today
Trusted media brand of the Chartered Institute of Housing
HRA debt reduction of £17bn needed to tackle council underinvestment in housing, new report finds
Report by CIH and Savills calls for a re-opening of the 2012 local authority self-financing settlement
A new report by the Chartered Institute of Housing in partnership with Savills has found that the Housing Revenue Account debt settlement needs to be reduced by £17bn to address councils’ underinvestment in housing.
The Housing Revenue Account (HRA) debt settlement between the government and local authorities, agreed on in 2012, was set at approximately £29bn.
The Chartered Institute of Housing (CIH) and Savills have estimated that to meet current and future quality and regulatory standards, the sustainable level of debt for local authorities with HRAs is now around £11bn.
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