Angela Rayner has dismissed speculation that she plans to abolish Thatcher’s Right to Buy policy but has pledged reform of the policy, which allows most council tenants to buy their council home at a discount, to ensure the stock of social housing is not depleted.
After reports that Right to Buy was to be scrapped, Rayner told Sky News: “I don’t want Right to Buy scrapped, we are doing a consultation on it at the moment and I am very clear people should have the right to buy.”
Last year, 10,896 homes were sold through Right to Buy while only 3,447 were replaced, resulting in a net loss of 7,449. Since 1991, the scheme has resulted in the loss of 24,000 social homes, according to official figures.
Under Right to Buy, which was introduced in 1980 as one of Mrs Thatcher’s flagship reforms, the government sells off council housing at discounts of up to £102,400 to sitting tenants, rising to £136,400 in London.
Rayner acquired her council house using the Right to Buy scheme in 2007 with a 25% discount, making a reported £48,500 profit when selling it, albeit eight years later.
Rayner said a government review of Right to Buy is looking at ensuring people can afford to buy their council homes while making sure taxpayers get value for money and properties sold can be replaced.
Labour’s general election manifesto promised to review the higher Right to Buy discounts introduced in 2012 while increasing protections on newly-built social housing. Changes are expected in the chancellor Rachel Reeves’ first budget as chancellor next month.
A Ministry of Housing, Communities and Local Government spokesperson said: “Right to Buy remains an important route for council housing tenants to be able to buy their own home but it’s scandalous that only a third of council homes sold under the scheme have been replaced since 2012.
“Increasing protections on newly-built social homes will be looked at as part of our wider review but there are no plans to abolish the Right to Buy scheme.”
Angela Rayner to ditch Thatcher’s Right to Buy scheme
