RTB receipts talks are greeted with optimism

摘要

Smith Square and Whitehall are in talks over Right to Buy (RTB) receipts, with senior personnel 'optimistic' councils could keep a greater share or have more time to spend cash.Addressing The MJ's Future Forum in London on 27 April, Local Government Association (LGA) chief executive Mark Ltoyd said the sector had raised concerns over Whitehall's stance on RTB receipts with the Ministry of Housing, Communities and Local Government (MHCLG).As The MJ revealed last week, Whitehall took almost 20% (£875m) of the £4.2bn RTB receipts raised between 2012 and 2017 - much of it used to tackle the UK's debt problem.In addition, current rules mean councils must hand back RTB capital receipts with interest if they are not spent within three years. Confiscated money is then redistributed into housing through Homes England or the Greater London Authority.