Published: 4th Mar 2020

Town hall leaders have called on the government to allow Right to Buy (RTB) discounts to be set locally. New figures released today by the Local Government Association (LGA) show that the average discount given to tenants looking to buy their council home under the scheme is now more than £63,000. As a result, the LGA estimates that tenants have benefited from £4.9 billion in RTB discounts in order to buy their own home since 2012. According to the LGA, 79,119 homes were sold off between 2012/13 and 2018/19. With councils only able to use a third of each retained RTB receipt to build a replacement home, they have only been able to replace around a quarter (21,720) of these homes sold in the same period. The rest of the money from RTB sales goes direct to the Treasury. In its Budget submission, the LGA has called on ministers allow … (To read the full article, subscribe below)