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Mon October 26 2020

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HCA receives £390m to help plug housing black hole

6 Jul 10 The Homes & Communities Agency has received £390m from the Treasury to help it plug a huge social housing funding black hole.

The Homes & Communities Agency has received £390m from the Treasury to help it plug a huge social housing funding black hole.

The previous government had promised the HCA £610m to support various housing schemes, including the Kickstart programme.

But the cash depended on other departments underspending, and the HCA feared the new coalition government would lose all of the £610m promised by Labour.

However Chief Secretary to the Treasury Danny Alexander confirmed that the agency would receive £390m of the money.

The HCA already faces a spending freeze and £230m of cuts, announced during the coalition government's first month in office.

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