Plans announced to restore the right to buy policy are welcome. The policy revealed by the Chancellor in his Autumn Statement is one of a raft of measures aimed to help restore vibrancy to the housing market.
Under the proposals discounts of up to 50% will be offered on social housing, all money generated is earmarked to be spent on the construction of further social housing. When first launched, this policy allowed a new generation to experience home ownership for the first time, creating an almost unprecedented opportunity for social mobility. Sadly, the Labour Government watered this policy down denying the opportunity to own their own home to millions of hard working families.
There is no greater security then the knowledge that you own your home. Owning their own little bit of England is a goal held by people across the nation. I am delighted that the Government is going to restore a measure that was responsible for one of the greatest strides in social mobility in history. Importantly this reformed system will be sustainable in the long term. By earmarking the money generated for further social house building, a truly sustainable and equal housing system can be created.
2nd December 2011