Can property be the saviour of council budgets?

摘要

Plans to phase out Revenue Support Grant (RSG) by 2020 have galvanised local authorities into seeking new revenue streams and nowhere is the potential for more cash so tempting than in council assets. The question is, should authorities simply sell their assets for a one-off capital sum or develop them with private sector partners to create a long-term income flow such as through private sector housing rents? Two major reports from the Cabinet Office last week and a ministerial reminder to councils about leaving buildings empty attempted to provide some answers.