London housing associations could lose as much as 40% of their programme for new homes in 1994/95, a cash terms los...
London housing associations could lose as much as 40% of their programme for new homes in 1994/95, a cash terms loss of almost £140 million, the London Federation of Housing Associations said today.
The figures were released at the federation's annual conference and are based on potential changes to the Housing Needs Indicator currently being considered by the Department of the Environment. This determines the percentage of expenditure allocated by the Housing Corporation to each of its regions.
The federation says that housing associations in some London boroughs are faced with the possibility that the Housing Corporation may be unable to honour its pre allocation commitments, whereby Housing Association Grant has been promised to HAs prior to the government's announcement of the approved development programme.