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<p>We have listened to local authorities who asked for additional borrowing to deliver
more housing. We recently announced that we will raise the Housing Revenue Account
borrowing cap by a total of up to £1 billion in areas of high affordability pressure,
for local authorities who are ready to start building new homes. Local authorities
will be able to bid for increases in their caps from 2019-20 to 2021-22.</p><p>We
have also announced that we are providing an additional £2 billion, taking the affordable
homes programme 2016-21 to £9 billion overall. This is to deliver more affordable
housing for social rent in areas of acute affordability pressure, for which local
authorities will be able to bid.</p><p>Additionally, we are supporting local authorities
to build more homes through a longer term rent deal that provides a stable investment
environment.</p><p>Together these measures will help to deliver the new generation
of council house building that the Prime Minister announced recently.</p>
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