URL: https://democracy.stevenage.gov.uk/ieDecisionDetails.aspx?ID=3564

Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Purpose:

Content: Cabinet received a report on the proposals for the Housing Revenue Account (HRA) budgets and rent setting for 2025/26, which would also be considered by Council on 22 January 2025. The report recommended that rents on dwellings be increased by 2.7% which was in line with Government policy for rent setting.  The report also advised Members of some new pressures for the HRA including potential changes to National Insurance and responsive repair costs. Members noted that although there were pressures on the HRA and the rents were increasing in line with Government Policy, a substantial amount of money was being allocated for the building of new homes and for the improvement of the Council’s current housing stock.  The pressures would be monitored regularly through the Housing Executive Working Group. It was noted that the pressures were similar across the Country for those local authorities with HRA budgets. It was RESOLVED: 1.               That the proposals for the Housing Revenue Account (HRA) budgets and rent setting for 2025/26, to be considered by Council on 22 January 2025 be noted. 2.               That Members be updated on the formula for setting rents for 2025/26. 3.               That the HRA rents for 2025/26 be approved. 4.               That the HRA service charges for 2025/26 be approved. 5.               That the 2025/26 HRA budget, incorporating the decisions included in the HRA Medium Term Financial Strategy (MTFS) report that was approved at the Cabinet meeting on the 13 November 2024 and the proposed 2025/26 fees and charges be noted. 6.               That the further financial pressures identified since the HRA MTFS was approved in November 2024 be noted.   Reason for Decision: As contained in the report. Other Options considered:As contained in the report.

Date of Decision: December 11, 2024