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The Budget and the implications for stock retained councils 18/03/2016

The Chancellor presented his Budget to Parliament on 16 March which included a number of implications for stock retained councils.


Hidden in the Budget document is an announcement that the government will look at ways of further increasing home ownership levels among social tenants. The document says "The government will explore ways to extend homeownership to social tenants who cannot afford to take advantage of existing schemes."


It does not provide further details of what these schemes could consist of but stock retained councils may be invited (or compelled) to follow the principles set out in Chapter 3 paragraphs 10 and 11 of the NFA Voluntary Agreement which commits housing associations to examine some form of equity share arrangements for its tenants local.


The Chancellor also announced £100million funding to help people move on from emergency hostels and refuges. Treasury say this will pay for 2,000 places to live for those who need to move on from emergency hostels and refuges. £10 million will also be available for schemes like 'No Second Night Out', which is aimed at helping people who have recently started rough sleeping to come off the streets after a single night.


Matthew Warburton, ARCH Policy Adviser, has produced a briefing summarising the main measures in the Budget as they affect stock retained councils.

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