Housing Revenue Account to go!!

At last, the much-maligned housing revenue account, with its' absurd subsidy system, is to be abolished. The review which had begun under the Brown government has been accepted by the coalition and the days of council housing departments  not being able to spend the money they raise from rents are finally numbered. More details are due to be announced as part of the CSR later this month, and the issue of housing debt and how this will be settled is one which many councils will be looking out for. I hope that the good news about abolition of the HRA will not be spoilt by a potentially damaging policy on outstanding debt. Watch this space.