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jellybaby in reply to @hazzelfrazzel

The money the local authority gains from the sale is then ringfenced and can only be used to build new social housing.

That's not my recollection and Wikipedia seems to agree with me.

Half the proceeds of the sales were paid to the local authorities, but the government restricted authorities' use of most of the money to reducing their debt until it was cleared rather than spending it on building more homes. The effect was to reduce the council housing stock, especially in areas where property prices were high, such as London and the south-east of England.

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hazzelfrazzel in reply to @jellybaby

Apology needed. My memory was defective on this. I've checked with her and you and @MTB-Idle are right, the proceeds are not ringfenced as I incorrectly said.

What I was confusing this with is that in 2012 they made a commitment to replace all homes sold via right to buy 1:1. In theory great, but she says in reality there are 2 problems. 1. They didn't meet the commitment, and 2. It isn't a like for like replacement. As such, you could replace a 5 bed house with a studio flat and you've adhered to the rules.

I'll wind my neck back in on right to buy. In theory good, but I'll agree that in practice it is deeply flawed.

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