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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

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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


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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:

triangleStop eviction of Camden homeless collective

triangleSouthampton West Socialist Party: The crisis in housing

triangleEssex cuts racket must end

triangleEviction resistance on the march in Waltham Forest

triangleWaltham Forest: Campaign unites families facing eviction

Council:

triangleNewham City Farm - closed with no consultation

triangleBrighton Green and Labour cuts - workers and communities fight back

triangleRestore Cardiff's slashed services

triangleCoventry bin strikers lobby strike-breaking Labour council

Homes:

triangleNews in brief

triangleTories concede under cladding pressure but don't go far enough

triangleEnergy price crisis: nationalise energy giants to save us from 600 hit

Councillors:

triangleRob Windsor - remembering a tireless fighter for socialism

triangleResisting evictions in east London

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