Opponents of the bill had at least a moderate victory today, when Senator Charles E. Schumer, Democrat of New York, forced a voice vote on the Senate floor to approve an amendment intended to prevent lenders facing bankruptcy from trying to sell off high-interest "predatory" loans.
Major investors such as Norway's sovereign wealth fund – the world's biggest – have already begun selling off high-carbon stocks such as coal companies.
Local authorities must fund the policy by selling off high-value council properties in their local area, but peers are warning that the policy could lead to a collapse in the supply of affordable homes.
Between now and 2020, councils also face having to sell off higher-value council homes in order to fund discounts on housing association homes that are due to come in under right-to-buy provisions.
Much the best scene, worthy of I, Daniel Blake, shows Mickey and his grandad being threatened with expulsion from their home because of the council's mandate to sell off higher-value properties: this both shows the cruelty of current housing policy and prompts Mickey to circumvent the order by following the New Testament principle of: "I was a stranger and ye took me in".
Global equities rebounded from the four day sell off, surging higher on Tuesday.
Local authorities however will still be picking up the bill for the right-to-buy discounts, forcing them to sell off their higher value properties as they become vacant in order to fund this.
They will fund both the giveaway and the replacement by forcing councils to sell off their highest value properties when they become vacant.
First, he points out that if councils are forced to sell off their "high-value" homes, places like Quaker Court will be exactly where they will start.
The end to lifetime council tenancies, the pay-to-stay rule increasing rents for council tenants earning more than £40,000, and provisions to force local authorities to sell off their high-value homes, will effectively kill off council housing.
