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The idea was that councils could build new housing using the money and
essentially profit from their housing stock.Er, no.
When RtB was extended and extensively promoted by Thatcher's government, councils were prevented from using the revenue to replace the housing stock (except under conditions which were deliberately set to prevent them being met). It was an ideological policy, nothing more, nothing less.
they are local councils and largely inept/corrupt.>
Evidence?
Thought not.
jsabine
@Airhead
The idea was that councils could build new housing using the money and essentially profit from their housing stock. Unfortunately many councils have mortgaged their housing stock and now struggle to find land to build on. They should still be able to turn a profit building replacements and essentially raise the quality and amount of social housing, of course they don't manage this because they are local councils and largely inept/corrupt.