Government-imposed debt ceilings should be lifted to allow councils to quadruple the number of homes they can fund from 15,000 to 60,000 over the next five years, leading housing organisations have urged.

According to a report published by the National Federation of ALMOs (arm's length management organisations) this week, borrowing caps enforced by the Treasury represent a stumbling block to local authorities maximising the value tied up in their housing stock.