Housing Minister John Healey has laid out his proposals for changing the system of handling Council housing revenue.
At present, revenues from rents and right-to-buy sales go to Central Government and are redistributed. Healey’s proposals would see Councils keeping their own revenues. This, it has been suggested, will help Councils plan for the future, by giving them more predictable future revenues on which to base plans and funding proposals.
It’s likely that if the rules are implemented, Councils in West London will be more able to lead on regeneration schemes. More predictable future revenues will allow funding to be more easily secured.