REFORM OF COUNCIL HOUSING NEGATIVE SUBSIDY

That this House notes that, through the rents they pay, council tenants are net contributors to the Exchequer, paying more to the Treasury in negative subsidy than the Treasury pays out in subsidy; further notes that current estimates put the profit from rents to the Government in 2008-09 at £185 million to £200 million; regrets the fact that the review of housing revenue account subsidy is not yet complete; believes that the current system is unfair and unsustainable; and calls on the Government urgently to reform the system to allow tenants to benefit directly from the rent they pay through investment in the condition of their homes and the quality of the services they receive.