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A revised and improved approach to delivery of housing regulation

Last updated: 24 Feb 2017

Consulting body:
Welsh Government
Status:
Closed
Period of consultation:
Runs from 13 January 2017 to 24 February 2017
CML action:
Response submitted

As part of the new approach to introduce a matrix of published co-regulation status judgements, the Welsh Government is consulting on proposals for a new set of performance standards and associated guidance, to replace the current delivery outcomes. The new standards and guidance are presented in the table on pages 6 and 7 of the document.

Welsh Government Housing Regulation has worked collaboratively with key stakeholders, including tenants, funders, Registered Social Landlords (RSLs) and Community Housing Cymru, to develop and co – produce a revised and improved approach to delivery of housing regulation.

CML response

We welcome the introduction of the new matrix of “capacity to improve” judgements for Governance and service delivery and Financial viability, with their 4 status descriptors for Standard; Increased; Intervention and Statutory Action.

We believe that these judgements should, subject to effectively resourced implementation, support lenders and investors in calibrating their own assessments of RSL businesses.

These changes to the regulatory framework and how it operates should help to provide funders with confidence in the robustness of Welsh Government’s regulation of the sector.

Notwithstanding these changes, there are significant other unresolved issues which continue to weigh against funders’ confidence and risk perceptions.

These relate to Government’s legislative response to the decision of the ONS to reclassify Welsh RSLs as public non-financial bodies.

Read the full CML response to the consultation below.