The government has recently terminated a policy that allowed local authorities to retain 100% of revenue from sales of council homes through the right to buy scheme.

According to Whitehall insiders, figures submitted to the treasury indicate that the policy contributed between £180m and 200m per year to local authority housing budgets.

The policy has been in place for two years and was due to expire in April, but despite representations from the Department for Levelling Up, Housing and Communities to extend it, it has not been renewed.