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It was an ideological policy, nothing more, nothing less.
I thought part of the logic was also to help balance the books. You can argue the ideological nature behind that, but I think there are more elements to it.
As to the point about corruption what about the examples of current councilors being flown out to exotic locations by property delopers to seek international finance? I'm not going to go into it here but I know first hand of an example again related to property development.
In Islington back in the day where Labour used to have the council sewn up there have always been stories. Lots related to road construction contracts. More sinister were the child abuse cover ups when Margaret Hodge was on the council.
All of those things can be found out with a quick bit of research. Or did I miss understand and you were after evidence of ineptitude?
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.
Evidence?
Thought not.