Why doesn’t the Scottish Executive just give us the money?
The City of Edinburgh Council, like all other councils, only has access to limited resources. We are unable to borrow enough money to significantly improve our housing stock and are not given enough money from central government to invest in our housing stock at present to meet the needs identified. However, if we transfer our stock into a new housing organisation, we will be able to access funding that we wouldn’t be able to as a council. The new organisation would also start its life debt free. At present, almost half the rent paid in Edinburgh goes on dealing with debt- under the new arrangements this money could be spent on housing improvements. This means that we will have significantly greater resources to be able to invest in our housing stock and also on additional affordable housing.
