In March, the Government announced a reinvigorated policy on right-to-buy and one-for-one replacement. Agreements have now been sent to councils to sign by noon on 27 June if they want to keep receipts from right-to-buy sales in the first quarter of this year. By signing up to the agreement, councils will be able to retain receipts locally and have the opportunity to reinvest locally rather than seeing any receipts pooled by the HCA or GLA.
The LGA will continue to press the Government for a review of the right-to-buy policy after one year and for greater flexibility over borrowing to allow councils to invest further in homes in their local areas.
6 December 2012