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We understand that the proposed ballot of transfer of Neath Port Talbot's council housing to a cooperative mutual has been postponed until the New Year. A special council meeting due to have been held on Friday 3rd July, which may or may not have been connected with the progress of the ballot process, was cancelled at ten days' notice.
On the one hand, this may allow the "No" campaign to build up a head of steam, especially if threats to haul councillors, who back it, up before the Standards Committee are carried out. It may also threaten some grants from the Welsh Assembly Government conditional on a ballot being held before a certain date.
On the other hand, it may push the date for a ballot beyond the next general election, after which a more intelligent and local government savvy Chancellor of the Exchequer will revise the borrowing rules, allowing Neath Port Talbot to hold on to its housing stock and meet the Welsh Housing Quality Standard.
3 comments:
The borrowing rules are not the problem. NPT can already borrow against its housing stock under prudential borrowing. The problem is an insufficient income stream to finance the borrowing.
Just one quick question - How on earth is NPT going to meet the Welsh Housing Quality Standard without private investment? There is no money! I say again, There is no money! LOL
I am obviously missing something here because it is clear cut to me. Sell off the housing to a publicly accountable private investment company or miss the standard through lack of available funds.
Oh sorry, one more question - What happens if NPT fail to achieve the standard or is this not an option and will have to be met by massive increases in council tax by those people who are not housed in local authority accommodation?
How many houses are we talking?
Build cost are from around £50k upwards; NPTCBC had some £20million invested in the Icelandic Banks.
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