Affordable Housing: Finance – Parliamentary Written Answer

Austin Mitchell: To ask the Secretary of State for Communities and Local Government what proportion of the receipts from the sale of local authority-owned homes will go to local authorities for the construction of new social housing.
Grant Shapps: Local authorities currently retain all the receipts from the voluntary sale of local authority-owned homes, and 25% of the receipt from right to buy (or similar) sales. These receipts may be used to fund the building of new social housing, but that is a decision for each authority. My Department intends to consult shortly on how, in future, right to buy receipts can be used to fund replacement social housing at affordable rents on a one-to-one basis either through registered housing associations or local authorities.