The Tory Councillor clearly has a problem doing arithmetic:
"In Birmingham’s case, the total receipts since 2004/05 that have been, and will be, paid to the Treasury by the end of March 2011 are estimated at £170 million. This is enough to build 1,700 properties entirely debt-free at today’s prices. Combined with the ability to borrow and keep 100 per cent of the rental income there is the possibility that these funds could have provided a model to replace most of those homes lost through RTB"
How can 1700 homes replace most of the homes lost through RTB when earlier in the article he says this is 50,000?
Thats 3.4% replaced with 96.6% not being replaced - MOST?
Is he really proposing to borrow against 1700 homes to get the funding for a further 48,300 then?