Comment on: HRA reform prompts wave of stock transfers
Sorry Gresley, you've misunderstood the situation. The transfer in South Lakeland (3155 houses) avoids the debt of £69 million. Without transfer the Council will have a debt of £83.5 Million to be serviced and repaid from rents. After the transfer (which took place last Monday) South Lakes Housing has a debt of £20 million to service and repay. There are various costs of transfer, including a government levy, but ultimately the tenants have saved just over £60 million.
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