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From The Socialist newspaper, 22 November 2017

Councils' 1bn on commercial property amid housing crisis

Bricks Building Housing, photo Scott Lewis/CC, photo Scott Lewis/CC

Bricks Building Housing, photo Scott Lewis/CC, photo Scott Lewis/CC   (Click to enlarge)

Councils in England and Wales are set to gamble 1 billion on commercial property ventures. That's enough to build over 8,000 new council homes.

The figures come from estate agent Savills, which found councils had spent 758 million this way in the first two-thirds of 2017.

Perhaps councillors plan to move the 1.2 million households on council waiting lists into the hotels they're buying? Maybe office and shopping centre workers can just kip over after closing time now their local authorities own them?

Never mind encouraging property speculators - councils have become them. Send these town halls eviction notices, down to the last Tory and Blairite. Build council homes now.

James Ivens

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In The Socialist 22 November 2017:


What we think

Budget: lying Hammond says no unemployed


Scottish Labour

What does the left victory in Scottish Labour mean?


International socialist news and analysis

Zimbabwe: Mugabe gone - but his regime remains in power

Australia: massive yes vote for marriage equality

Trump's tax attacks


Workplace news and analysis

Scotland: BiFab workers' occupation and march secures jobs and pay guarantee

Usdaw general secretary coronation

Leeds college workers protest poor pay rises

Virgin train workers vote for strike action over pay

Sheffield Eastern Ave Job Centre strike ends


Housing crisis

Posh estate agent's housing crisis solution: make your own sandwiches

Them & us

Councils' 1bn on commercial property


Socialist Party news and analysis

NHS cuts kill!

Gentrification on the terraces: fans say twenty's plenty

Carbon dioxide hits 800,000-year high: end profit-driven pollution


Socialist Students

Lively student demonstration for free education could have been much bigger

Socialism 2017 Socialist Students meet-up


Socialist Party reports and campaigns

Nottingham 'Reclaim the Night' march highlights cuts

Southampton: Corbynista success but cuts continue


Socialist readers' comments and reviews

Disability cuts outrage: my story

Left comic's take on politics will have you in tears

The Socialist inbox


 

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Related links:

Housing:

triangleBezos housing hypocrisy

triangle250,000 families in "non-decent" homes

triangleCatford campaign against regeneration

triangleIreland housing occupations

triangleHousing workers walkout forces improved pay deal

Council:

triangleBirmingham home carers' protest demo

triangleLewisham: binning the rates rise

triangleMomentum's 'The World Transformed' blocks discussion on Liverpool council struggle

triangleReading council plans privatisation - set a no-cuts budget instead!

Homes:

triangleHackney Socialist Party: Build a movement against racism

triangleWest London Socialist Party: Build a movement against racism

triangleLambeth Socialist Party: Build a movement against racism

Councillors:

triangleWaltham Forest Labour council votes to close library - campaign goes on

triangleBirmingham home carers strike

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