The report sets out the financial position of the Housing Revenue Account (HRA).  There are proposals concerning the debt strategy, investment potential and increases to rents. 

That the draft Housing Revenue Account budget proposals for 2014/15 be approved as the basis for public consultation and to engage with tenants.

The Executive considered a report from the Deputy Leader and Executive Member for Corporate Resources and the Executive Member for Social Care, Health and Housing that set out the financial position of the Housing Revenue Account (HRA).  The report contained proposals concerning the debt strategy, investment potential and increases to rent.

In response to questions, the Executive Member for Social Care, Health and Housing explained that the increase in rent was consistent with the Government’s Rent Convergence.  From 2015/16 all rents would be increased by the Consumer Prices Index plus 1%.  The Council was investigating the opportunities to build new social housing. 

Reason for decision:  To facilitate effective financial management and planning for the HRA under self-financing.

RESOLVED

that the draft Housing Revenue Account budget proposals for 2014/15 be approved as the basis for public consultation and to engage with tenants.