outstanding historic debt on council housing, now amounting to some £12bn, has already been paid off more than three times over. Government receipts from right-to-buy sales have yielded altogether around £45bn, of which only a quarter has been recycled into improving public housing. In addition, stock transfer has produced a further £6bn, making a net total of £40bn extracted from the council housing estate. So why should council tenants still have to clear any remaining historic debt? In effect some of the very poorest people in the country are having to subsidise the exchequer, whose public expenditure has been shown in regular surveys to disproportionately benefit the middle classes.Michael Meacher: Is Brown serious about social housing? | Comment is free | guardian.co.uk
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