The government has quietly scrapped a proposal to force councils to sell off their most valuable assets, which would have included their largest homes.
Inside Housing says the policy - which would have required councils to make an annual payment to government, recouped through the sale of higher-value homes as they become vacant - had intended to use the funds to meet the £4 billion cost of extending Right to Buy discounts to housing association tenants.
The magazine says it is now unclear how the government intends to fund this policy, or indeed if it intends to go ahead with it, now that the policy has been dropped.
A statement from the government says: “The [social housing green paper] outlines plans to build on the new borrowing capacity granted to local authorities by exploring new flexibilities on how they spend the money from homes sold under the Right to Buy scheme, and not requiring them to sell off vacant, higher-value stock.”
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