Glasgow mortgages its housing dream

Scotland's government plans to absorb Glasgow City Council's housing department debts, amounting to over 1 billion sterling pounds, if the city council agrees to sell its entire housing stock. The Scottish Office guaranteed to pay for the residual debt and breakage costs if the sale pushes through. The sale of the 100,000 council houses, which is subject to the result of the feasibility study by Hacas Exchequer Service, is expected to be completed by spring 2000. However, concerns on the implication of the privatization and the council's public obligation for the homeless were raised.