Today, we have announced £366 million of extra cash to help councils provide thousands more council homes, giving families across the country the security they deserve.
Everyone should be able to live in safe, clean and affordable housing and local councils should be given the tools to deliver on our ambition.
That is why we have announced that councils will be able to keep the proceeds from Right to Buy sales for two years, a £366 million boost to local authorities giving them the funds to increase the council housing stock by 4,000 homes.
We are delivering for families across the country, giving local authorities the right powers to help them boost housebuilding and expand the stock of available social housing.
“This additional money is very welcome. We need to get on with building great new homes and community facilities at Tipner. In order to do that the plan has to work. This needs to be a priority for the council.” Penny Mordaunt MP.
Local authorities will be allowed to keep Right to Buy sale proceeds for two years.
TOWN halls are to get an extra £366million to build thousands more council houses.
Councils will also be allowed to buy more homes to replace sold stock rather than build.
The Department of Levelling Up reckons the steps could increase council housing stock by more than 4,000 by the next election.
A Tory source said: “Gove is actually putting his money where his mouth is to deliver thousands of new council homes.”
“This will be invested in new social homes.”