THE DISPATCH
HOUSING
Boris Johnson wants to bring back Right to Buy in a very big way. There could not be a worse time to do it, warn experts
Boris Johnson’s plan to extend the Right to Buy scheme to allow housing association tenants to buy their home at a knockdown price has been labelled as a ploy to secure votes from low-income households in traditional “red wall” areas.
The Prime Minister is looking to give as many as 2.5 million people the chance to buy their home for a discount of up to 70 per cent on the market price, depending on the number of years they have spent living in the property.
Johnson is also exploring using money spent on housing benefit to contribute to mortgages, according to reports in The Daily Telegraph that appeared just days before last week’s local elections in England. A government source told the newspaper the PM “has got very excited about this”.
A government spokesperson told The Big Issue, “We want everyone to be given the chance to own a home of their own, and we keep all options to increase home ownership under review.”
The Right to Buy scheme was originally the brainchild of Margaret Thatcher in the Eighties. The scheme allowed council house tenants to buy their home at a large discount, with the government issuing local authorities receipts to build or acquire homes to replace them. But the policy has been criticised for the erosion of social housing stock, with thousands of homes sold into the private sector, leaving a shortage of affordable housing that has contributed to the housing crisis. Very few replacement homes were built. The Welsh and Scottish governments both scrapped the scheme in
