Was wondering what other peoples view is on the recent consultation paper for the pooling of housing receipts?
As they are extending the treasury share cap over the next few years but continuing using the same formula which relies on the average capital receipt received less the discount for 2008/09 2009/10 and 2010/11 which during those years the discount amount was capped at £24,000, however since 2012/13 when the discount cap was removed our average discount amount since then is £41,576. Therefor this reduces our capital receipt received after the discount quite considerably.
This means in order for us to take advantage of the retained RTB monies we have to sell a lot more properties than on their forecast which seems counter intuitive as they want us to increase our stock?
Link for consultation paper www.gov.uk/.../local-authorities-capital-finance-regulations