Social Housing: Right-to-buy Sales - Question

Part of the debate – in the House of Lords at 11:07 am on 18 April 2024.

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Photo of Baroness Swinburne Baroness Swinburne Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities) 11:07, 18 April 2024

As a temporary measure, councils were able to keep 100% of the right-to-buy receipts from sales in 2022-23 and 2023-24. As councils have five years to spend these receipts, we are continuing to track the impact of allowing authorities to retain 100% of right-to-buy receipts. As previously announced, the cap on acquisitions funded through right-to-buy receipts is at 50% until 2025-26, to enable councils to do more acquisitions. The Government are working with councils to support their supply and delivery plans, and we are keeping the right-to-buy receipt flexibilities under revie w.