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COUNCIL HOUSE CASH ALREADY SPENT, LABOUR TOLD

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The Independent (p10) reports that the billions of pounds in revenue from the sale of council homes, which Labour w...
The Independent (p10) reports that the billions of pounds in revenue from the sale of council homes, which Labour was hoping to spend on new housing projects, has already been spent.

Labour estimated that £6bn was available for a future Labour government to allow authorities to spend on building new homes.

But ministers, local government experts and council officers say the figure is closer to £2bn because since the government froze the money to stop councils spending on capital projects, they have been using it to pay off debts or to help with day to day cash flow.

None of Stockport MB's £16.5m capital receipts are now available, a spokesman told the paper. Islington LBC and Barrow-in-Furness BC are also mentioned as having no council house sale revenue left.
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