Why Theresa May's Council House Plan Isn't As Generous As It Seems: Kevin Maguire
19 September 2018, 11:55 | Updated: 19 September 2018, 11:58
Kevin Maguire outlined the reasons that the government's flagship social housing policy is far less generous than it originally sounded.
Theresa May unveiled government plans for their £2billion programme on council houses, warning that too many politicians "look down" on council housing residents.
But Kevin, standing in for James O'Brien, looked beyond the headlines and found some aspects that didn't look as good.
He said: "There's a lot of catches around the £2billion that makes it not quite as generous as it might seem.
"The first is that it doesn't begin until 2022 - that's four years away. Not much help if you're looking for a house now or if you're in somewhere sub-standard, damp and crumbling.
"Then that £2billion spending, when it arrives in 2022, is spread over 10 years. So it will be up to 2032.
"The number of properties it's supposed to build is 40,000, that's 4,000 a year from 2022.
"That would make the estimated cost of each property around £50,000. I'll believe that when I see it. It's almost, dare I say it, Diane Abbott mathematics.
"In South Yorkshire, the authority there that is selling houses, it requires £120,000 per house to rebuild them."