05 December 2003
Arm's-length companies set up by councils will be forced to wait until the spring to find out how they can borrow extra money to improve housing.
The National Federation of Arm's-Length Management Organisations had hoped that proposals to give high-performing Almos extra borrowing powers would appear by the end of 2003. But the Office of the Deputy Prime Minister has indicated that spring is a more likely time.
Almos with two or more stars are already allowed to borrow sums approved by the government. So far, just three Almos have gained three stars from the Audit Commission but others with two stars hope to improve and gain further freedom in the future.
PFdec2003
