Housing Associations Are “In Danger of Collapse’
Some leading housing associations are in “grave financial difficulty” and in danger of collapse, Liberal Democrat treasury spokesman Vince Cable said today.
Mr Cable asked ministers during Prime Minister’s question time what the Government was proposing to tackle the problem.
He said: “A few days ago the regulator of the housing associations warned that six of the leading associations are in grave financial difficulty and in danger of collapse. What is the Government proposing to do about it?”
Mr Cable asked Ms Harman: “Do you not realise investment isn’t happening because the housing associations are bust and the Treasury’s imposing a crippling funding formula on the association?
“The housing repossession policy is reaching less than one in 10 of people in housing arrears.
“Will you now give the same attention to the financial crisis in the housing associations that the Government is giving to the banks?”
He asked Ms Harman which of them were in “grave difficulty” and what ministers were planning to do to rescue them.
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