2.3 Why can't the Council INVEST what is needed?

Because the Council is a public body, there is currently a limit on how much it is able to borrow to fund housing projects. This is because Council borrowing affects the level of the Public Sector Borrowing Requirement, which the Government controls tightly. The Government has recently introduced changes to the rules on Council borrowing, but this relaxation of the rules does not help the Council in its ability to raise the funds necessary to carry out the works of repair and improvement needed to the estate.

Because the Council is a public body, there is currently a limit on how much it is able to borrow to fund housing projects. This is because Council borrowing affects the level of the Public Sector Borrowing Requirement, which the current Government controls tightly. The Government has recently introduced change to the rules on Council borrowing, but this relaxation of the rules does not help the Council in its ability to raise the funds necessary to carry out the works of repair and improvement needed to the estate.