Member

In the Budget, we also confirmed that councils will no longer be required to return a portion of the capital receipt generated by a right-to-buy sale to the Treasury. I will not comment on giving money back to the Treasury, as the noble Lord, Lord Porter, did, but I think this money is better suited to being in local areas to build housing. This is in addition to the increased flexibilities in how councils can spend the receipts, which we announced in July. These changes will better support councils to build and acquire new council homes to meet local housing need.