The leader of Islington council's opposition has called for the management of the borough's housing stock to be brought back under council control, claiming that it could save the council £1m a year. The leader of the council's opposition Liberal Democrats, told the Islington Gazette that it is time for the stock to be transferred back to the council and the ALMO to be abolished, saying "Officers say the council's housing revenue account could save £1million a year if HFI were abolished. We set up HFI in 2004 to access the hundreds of millions of Government funding that would only arrive if we set up an arms-length management organisation or transferred our stock. That reason no longer exists." A spokesman for the council said “I think a lot will depend on the outcome of the Comprehensive Spending Review and also the Government is reviewing the Housing Revenue Account which will have implications to how things are funded.” Read more on 24dash.
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