Councils can use 'surplus' asset sales to fund housing and services

Updated guidance by Communities Minister Marcus Jones, shows how councils can use a radical shake-up of spending rules to make improvements to local services. In the Autumn Statement, the Chancellor announced changes to the rules for use of ‘capital receipts’. Now for a 3-year period from the 1 April, local authorities will be able to spend any revenues they generate from selling surplus assets – like property or shares and bonds - to fund the costs of improvements to...