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Barnet misses out on £58m in funding with financial impact of housing scheme challenged

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Barnet Council has lost out on £58m in housing funding after a ‘call-in’ request by opposition Conservative councillors raised concerns about the business case of a planned housing scheme and caused delays.

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Grant funding had been awarded to Barnet by the Greater London Authority (GLA) and would have enabled the council to buy 208 affordable homes

Plans to hand mayors a portion of income tax revenues risk funding for richer areas pulling ahead by billions of pounds a year unless carefully designed safeguards are built in, the Institute for Fiscal Studies has warned.

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