A number of reports have recently emerged showing how councils can minimise the effects of debts incurred when taking control oftheir Housing Revenue Account (HRA).
On 25 October London Councils considered a research report by Navigant which puts forward a number of options for councils to do on their own or undertake jointly – including:
- Active asset management – such as disposal
- Investment and Service Partnerships – similar to the Private Finance Initiative
- Collective or integrated HRA operations
- Headroom trading – with cross borough nominations
The Local Government Chronicle has expanded upon the last point with an article claiming that “tenants ‘could be exchanged’ for borrowing”.
Some Councils are planning to cut the amount they will owe by demolishing properties
Others, like Swindon are looking at transferring their stock