Lambeth Labour are to carry on with their Homes for Lambeth plans even though the Government cap on borrowing to build council housing had been removed, a public meeting has been told.
“They have said ‘we’ve spent three to four years sorting this out now so we don’t want to change our plans’,” said Lambeth Conservative Cllr Tim Briggs.
“Lambeth council have decided they are going to borrow money from the markets. “From where I’m sitting the risk is much higher if you are borrowing money from the markets.”
Cllr Briggs comments came following the showing of the film ‘Dispossession’ at a public meeting held at the Prince Regent pub opposite Brockwell park lido on Sunday afternoon.
Cllr Briggs said the film was “quite balanced and fair all things considered. “I don’t disagree with much of what was said”.
But he took issue with comments made by a barrister in the film over comments on ‘Right to Buy’.
He said Right to Buy monies do not go back into social housing. Monies are held by the local authority, which has to spend it within a certain amount of time on housing.
“Lambeth have taken that money and thrown it into the regeneration schemes. “Other local authorities have either put it into housing or lost it after three or four years.”
Cllr Briggs, was introduced by the independent chair of the meeting as “who is here because he’s done so much work on Cressingham Gardens and Central Hill.” The meeting was jointly organised by Stand Up to Lambeth and the Hurst and Meath residents association.