📺 VIDEO: Right To Buy applications in Greenwich surged after Labour Chancellor Rachel Reeves’ decision to slash the available discount in October, councillors have been told.
In October Reeves slashed the maximum discount available from £136,400 to just £16,000 in London boroughs, after Labour committed to this in their General Election manifesto. The Chancellor unexpectedly gave a 3-week heads up - resulting in Greenwich seeing 1,022 Right To Buy applications against the forecast 30 in that period. The relevant service had just been given ‘limited assurance’ in an internal audit, and is struggle to process the surge in applications
Councillor Matt Hartley questioned why the Council hadn’t lobbied central Government for New Burdens funding to help process the applications, at a meeting of the Audit and Risk Management Panel on 22nd January.
