Councils Claim Extra £470m Could Be Spent On Housebuilding If Allowed To Keep All RTB Receipts

If the Government slashed red tape and let them keep receipts from right-to-buy sales, then London’s borough councils would have an extra £470 million to spend on building new homes, it is claimed. London Councils, the umbrella body representing all 32 boroughs and the City of London, made this claim in its response to a Government consultation on capital finances regulations for local government, based on data from 2014/15. Read more on Housing Excellence.