Nearly 40 new affordable homes could be built in West Lancashire after the council was given permission from the government to borrow £2.5m.
Housing Minister Brandon Lewis has announced new powers for councils to help them build affordable homes across the country. The Minister confirmed that 22 councils will be able to borrow an additional £122 million over the next two years to build over 1,700 new affordable homes and support local growth. But with millions still available, Mr Lewis argued more councils should be putting themselves forward.
House building is a central part of the government’s long-term economic plan. Since 2010, nearly half a million new homes have been built, including 200,000 affordable homes.
In 2012, the government changed the Housing Revenue Account subsidy system so councils keep all the rents they collect from their homes and all profit from any sales of houses or land, giving them the freedom to invest them in building
With just one week left to bid for the second round of extra funding available, Mr Lewis challenged councils who had not already done so to come forward.
Housing Minister Brandon Lewis said: “With £178m additional borrowing still up for grabs, I want more councils to do their bit by following in the footsteps of these 22 and bidding for the very powers they asked for.”