Right to Buy Has 'Stolen' £90m Funding For Building London Council Housing

The Government’s Right to Buy policy has “stolen” £90m funding for building council housing in London, Labour has said. Ministers admitted in a letter that tens of millions of pounds from the receipts of council house sales had not been directed back to the capital but sent to the Treasury. The Treasury cut of sales comes despite a massive shortfall in the Government’s promise to replace any homes sold off under the policy. Nationally, 26,619 homes have been sold under Right To Buy since 2012 when the policy was revamped by the Coalition government. Of those, 3,337 have been replaced, according to figures released by the CLG. Read more on the Independent website.