The Minister has published details of the new financial deal for council housing - a key measure of the Localism Bill currently before Parliament. This includes a detailed description of how each council's opening financial position will be determined and the process for implementing these reforms in April 2012. The new self-financing approach gives councils what they need to manage their housing stock over the long term rather than on a year by year basis. This will be achieved by a one-off adjustment to each council's housing debt after which councils will retain all the rental income they collect. By introducing a direct link between rents councils charge, the money they spend and the services they deliver tenants and local tax payers will be better able to hold their landlords to account. Councils will now for the first time be able to make information about how money is raised and spent publicly available in an easily accessible format. This will include how landlords are improving value for money to their tenants and local tax payers. Read more on the CLG website.
No comments:
Post a Comment