Councils could be forced to rely on private developers to
replace high-value homes sold to fund the Right to Buy extension. Baroness
Susan Williams, parliamentary undersecretary at the CLG, made the admission in
a debate about the policy in the House of Lords. Pressed over what would happen
if a council was left with no funds to replace homes due to the demand for
Right to Buy homes, Baroness Williams said: “My Lords, in that sort of
situation, I would imagine that the local authority has a number of options
available to it, including the use of capital reserves, or indeed borrowing if
it wished to. Alternatively, of course, private sector developers could build
housing.” The comments are the latest indication
there might not be enough funding from the sale of council housing to fund both
Right to Buy discounts and replacement council homes. Read more on Inside
Housing.
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