Nonny - please detail the nature of that subsidy.
Development cost - subsidy is also paid for home ownership products, so no 'by nature subsidy there.
Rent - current rent income exceeds government payments to Councils, so no subsidy there
Housing benefit - pound per property more is spent on 'Affordable' RSL housing and even more on Private sector housing than is spent on Council housing, so no 'by nature subsidy there.
So, these three facts aside nonny - your facts are?