Titanic99 Posted April 12, 2013 Share Posted April 12, 2013 Since 1980 nearly three million Council Houses have been sold, which irrespective of the rights/wrongs of the policy will have generated billions into the finances of the country (the money couldn't go to Local Authorities). So given that this money wasn't re-invested in new housing, what did Thatchers government (and some under Labour) do with all this money which I reckon at an average price of £60k (probably a lot more than that) would be around 180000000000.(Could someone convert that to Billions?) Was this swallowed up (along with the North Sea Oil revenue) in paying Benefits out to the unemployed? Also, these houses belonged to all of us and they were sold off at huge discounts, does anyone else feel a bit aggrieved by this as I know I do. Link to comment Share on other sites More sharing options...
Obelix Posted April 12, 2013 Share Posted April 12, 2013 Paying for the Student Games probably....:-) Link to comment Share on other sites More sharing options...
ronthenekred Posted April 12, 2013 Share Posted April 12, 2013 Question..Where did the money come from to build council housing property? Link to comment Share on other sites More sharing options...
MrSmith Posted April 12, 2013 Share Posted April 12, 2013 Since 1980 nearly three million Council Houses have been sold, which irrespective of the rights/wrongs of the policy will have generated billions into the finances of the country (the money couldn't go to Local Authorities). So given that this money wasn't re-invested in new housing, what did Thatchers government (and some under Labour) do with all this money which I reckon at an average price of £60k (probably a lot more than that) would be around 180000000000.(Could someone convert that to Billions?) Was this swallowed up (along with the North Sea Oil revenue) in paying Benefits out to the unemployed? Also, these houses belonged to all of us and they were sold off at huge discounts, does anyone else feel a bit aggrieved by this as I know I do. It was flushed down the toilet with the tax we pay. Link to comment Share on other sites More sharing options...
Resident Posted April 12, 2013 Share Posted April 12, 2013 Since 1980 nearly three million Council Houses have been sold, which irrespective of the rights/wrongs of the policy will have generated billions into the finances of the country (the money couldn't go to Local Authorities). So given that this money wasn't re-invested in new housing, what did Thatchers government (and some under Labour) do with all this money which I reckon at an average price of £60k (probably a lot more than that) would be around 180000000000.(Could someone convert that to Billions?) Was this swallowed up (along with the North Sea Oil revenue) in paying Benefits out to the unemployed? Also, these houses belonged to all of us and they were sold off at huge discounts, does anyone else feel a bit aggrieved by this as I know I do. 180,000,000,000 = 180 billion. Link to comment Share on other sites More sharing options...
Cyclone Posted April 12, 2013 Share Posted April 12, 2013 Since 1980 nearly three million Council Houses have been sold, which irrespective of the rights/wrongs of the policy will have generated billions into the finances of the country (the money couldn't go to Local Authorities). So given that this money wasn't re-invested in new housing, what did Thatchers government (and some under Labour) do with all this money which I reckon at an average price of £60k (probably a lot more than that) would be around 180000000000.(Could someone convert that to Billions?) Was this swallowed up (along with the North Sea Oil revenue) in paying Benefits out to the unemployed? Also, these houses belonged to all of us and they were sold off at huge discounts, does anyone else feel a bit aggrieved by this as I know I do. 180 billion. Annual UK government spending, approx, 715 billion. And no, benefits to the unemployed account for about 3% of the welfare budget which works out as <10 billion per year. ---------- Post added 12-04-2013 at 17:13 ---------- Since 1980 you said, so that's over 32 years, that's 5.6 billion a year. A pretty small drop in the ocean of government spending really. Link to comment Share on other sites More sharing options...
harvey19 Posted April 12, 2013 Share Posted April 12, 2013 Did the money go to the local council or central government ? Link to comment Share on other sites More sharing options...
MrSmith Posted April 12, 2013 Share Posted April 12, 2013 Since 1980 nearly three million Council Houses have been sold, which irrespective of the rights/wrongs of the policy will have generated billions into the finances of the country (the money couldn't go to Local Authorities). So given that this money wasn't re-invested in new housing, what did Thatchers government (and some under Labour) do with all this money which I reckon at an average price of £60k (probably a lot more than that) would be around 180000000000.(Could someone convert that to Billions?) Was this swallowed up (along with the North Sea Oil revenue) in paying Benefits out to the unemployed? Also, these houses belonged to all of us and they were sold off at huge discounts, does anyone else feel a bit aggrieved by this as I know I do. http://www.channel4.com/news/cameron-resurrects-right-to-buy-scheme Since 1980, just under 2 million council homes have been sold in England. In that time, 344,000 council homes have been built. They were likely sold for much less than £60K each, my parents paid £9k, and the ones that were sold didn't need any future maintenance. Our local council have just spent £24 per council house modernising them. So nationally they saved 4,800,0000,000 because the new owner paid to modernize the 2,000,000 that were sold. Link to comment Share on other sites More sharing options...
harvey19 Posted April 12, 2013 Share Posted April 12, 2013 http://www.channel4.com/news/cameron-resurrects-right-to-buy-scheme Since 1980, just under 2 million council homes have been sold in England. In that time, 344,000 council homes have been built. They were likely sold for much less than £60K each, my parents paid £9k, and the ones that were sold didn't need any future maintenance. Our local council have just spent £24 per council house modernising them. So nationally they saved 4,800,0000,000 because the new owner paid to modernize the 2,000,000 that were sold. People tend to forget that most of the houses had been built in the 1920/30s or before and so were going to be expensive to maintain and modernise. Also if a house was bought from the council for £9K by now it will probably be worth about £80/90K which the council could claim for care costs, a good investment for the council whereas a council house tenant would pay nothing. Link to comment Share on other sites More sharing options...
Titanic99 Posted April 12, 2013 Author Share Posted April 12, 2013 180 billion. Annual UK government spending, approx, 715 billion. And no, benefits to the unemployed account for about 3% of the welfare budget which works out as <10 billion per year. ---------- Post added 12-04-2013 at 17:13 ---------- Since 1980 you said, so that's over 32 years, that's 5.6 billion a year. A pretty small drop in the ocean of government spending really. To be fair I did also mention the North Sea Oil revenue when commenting on the welfare expenditure. It still is one hefty chunk of money that seems to have gone into Government coffers over the years. Link to comment Share on other sites More sharing options...
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