Osborne puts the boot in


The following letter was published in the local press on Thursday 16 July … on the 20th July the following address was made at the full council meeting

sound of plans being ripped up



Norman Adams public comment at council meeting 20th July 2015

So the Leader of this council is pleased to welcome the first budget of the 2015 to 2020 national Government?

I wonder if this welcome is shared by the cabinet member for housing or the board of Northampton Partnership Homes who are left with a current business plan in tatters and questions as to if the Northampton Standard is still deliverable in full

  • With rental income down by 14%
  • Obliged to sell high value stock and hand receipts to exchequer
  • don’t retain pay-to-stay rent uplift
  • Only retain 50% of any RTB receipts, since 2012 the council has retained 81% of the receipts

 AND this excludes the impacts of:

  • Benefit cap reduced to 20k
  • Working age benefits frozen for 4 yrs
  • No automatic HB for 18-21 year olds
  • Compulsory pay-to-stay for those with incomes of £30k


Detail of Northampton RTB receipts for the three years 2012/2013 plus 2013/2014 and 2014/2015


£       230,100.00 Transaction cost  
£     2,761,314.00 Allowable debt  
£       888,674.00 LA share  
£     2,099,617.00 Treasury share  
£         46,798.00 Buy back costs  
£     2,394,284.00 1-4-1 receipts  
£ 10,997,507.00 TOTAL RTB receipts  
£ 8,897,890.00 NBC Keeps 81.00%
£ 2,099,617.00 Treasury Share 19.00%
£ 10,997,507.00 Total  


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