Magazine article Public Finance

Housing Director Urges Action Day over Subsidy

Magazine article Public Finance

Housing Director Urges Action Day over Subsidy

Article excerpt

Modest changes to the housing subsidy system will not allow councils to retain enough rent income to make sustainable improvements to their stock a housing director told delegates.

'We should not tinker with what we've got. It's broke,' said David January, director of housing at Waverley Borough Council, which pays more than ?10m per year into the national housing revenue account.

Calling on local authorities to organise a day of action that would include tenants protesting to MPs at Westminster, January insisted that the account should be replaced with an entirely new system that stops surpluses being snatched by the Treasury.

This year, the HRA is expected to generate a surplus of ?194m, which will be diverted to other public services. …

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