Town halls to get extra £366million for thousands of new council houses, Michael Gove announces
TOWN halls are to get an extra £366million to build thousands more council houses.
Local authorities will be allowed to keep Right to Buy sale proceeds for two years.
Levelling Up Secretary Michael Gove believes the money will pay for thousands more properties.
Councils will also be allowed to buy more homes to replace sold stock rather than build.
The Department of Levelling Up reckons the steps could increase council housing stock by more than 4,000 by the next election.
A Tory source said: “Gove is actually putting his money where his mouth is to deliver thousands of new council homes.”
The Department for Levelling Up, Housing and Communities said: “We want councils to be able to keep more of the money generated from Right to Buy.
“This will be invested in new social homes.”