In the era of the Bank of Mum and Dad, being able to buy your council home has become a progressive policy
Angela Rayner has confirmed Right to Buy will stay, but suggested there will be some reforms including reduced discounts
When Deputy Prime Minister Angela Rayner reportedly considered scrapping the Right to Buy scheme for some council houses earlier this week, it was greeted with applause by much of the left. Today she has ruled that out, but suggested there will be some reforms including reduced discounts – and no doubt she will be criticised for selling out. Paradoxically, I think this is the most progressive choice Rayner could make.
The discount on a Right to Buy purchase depends on what type of property it is, and how long you’ve lived there. Tenants with a term of between three and five years only qualify for a 35 per cent discount on a house and a 50 per cent discount on a flat, but up to 70 per cent off on lower-value properties is possible for long-standing tenants.
Seen through this lens, rather than a drain on our society, the Right to Buy is redistributive. It is an equaliser. It provides a chance that many of usme included, I should add) have been able to take for granted. And now would be the very worst time to scrap the Right to Buy.
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