FINANCE

The merits of the right to buy scheme

Right to buy is about more than votes and money says Harry Phibbs.

There has been lots of focus recently on the level of worklessness among council tenants. And people have suggested that, even with the discount trebled to £75,000, the revamped right-to-buy scheme will be a flop.

But 800,000 council tenants are in full-time work. Almost 60% of council tenants with children are sufficiently well off not to be claiming housing benefit. Furthermore, surveys show that most tenants would like to become home owners, if they could afford it. And, with the hike in discounts, many now can.

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