Photographer: Matt Cardy/Getty Images

Corbyn: Labour Would Let Councils Borrow to Build New Homes

Jeremy Corbyn, leader of the U.K.’s opposition Labour Party, said his party would remove the cap on borrowing to give local councils access to capital for building new social housing if it wins power.

“Labour will remove the artificial local borrowing cap and allow councils to borrow against their housing stock,” Corbyn told his party’s conference in Liverpool, northwest England. “That single measure alone would allow them to build an extra 60,000 council homes a year.”

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