Thursday, 3 November 2011

Pay to Stay – Parliamentary Oral Answer

Mr John Leech (Manchester, Withington) (LD): Will the Minister ensure that the revenue raised by pay to stay is ring-fenced for social housing?
Grant Shapps: I can provide a little more information. We expect some tens of millions of pounds to be raised by pay to stay. Those with six-figure incomes will pay a market rent to stay in their homes, and we will use every single penny of the money to build the more affordable housing that the most vulnerable people in society deserve and need.

Julie Elliott (Sunderland Central) (Lab): Does the £100,000 to which the question refers constitute household or individual income?
Grant Shapps: It constitutes the income of a household consisting of two partners.

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