Council housing services should be reorganised into local housing quasi-corporations with the freedom to borrow for...
Council housing services should be reorganised into local housing quasi-corporations with the freedom to borrow for investment, according to proposals in a new Local Government Association discussion paper.
The paper says LHQCs would remain under local authority control, but would have some managerial autonomy and separate accounts for both capital and revenue expenditure.
Their borrowing would contribute to the public sector borrowing requirement, but not the general government financial deficit. The LGA claims this would protect the government from the risks of borrowing and provide tenants with continuity and protection from forced transfer to a new landlord.
The LGA is now seeking to present its proposals to government ministers later this month. The paper costs£15 from LGMB Publications, tel: 0171 296 6600.