Council Housing: Finance
The question
To ask the Secretary of State for Housing, Communities and Local Government, if she will make an assessment of the potential merits of providing councils with grants to buy homes from the market to convert the tenure of these homes to council housing.
Answered by Matthew Pennycook
The Government will support councils and housing associations to build their capacity and make a greater contribution to affordable housing supply. As a first step, we have given councils the ability to combine Right to Buy receipts with section 106 contributions and removed the caps on the percentage of replacements delivered as acquisitions and the percentage cost of a replacement home that can be funded using Right to Buy receipts. These flexibilities will be in place for an initial 24 months, subject to review. We encourage councils to make the best use of these flexibilities and to achieve a good balance between acquisitions and new builds. We have also confirmed the third round of the Local Authority Housing Fund will be going ahead, with £450 million to councils to acquire and deliver homes for families at risk of homelessness.
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