Boris Johnson ‘plans to revive Margaret Thatcher’s Right to Buy scheme to help the young people get on housing ladder’
- PM told officials in last fortnight to develop the proposals to help generation rent
- The plan was included in 2015 Tory election manifesto but it failed to materialise
- It was inspired by Margaret Thatcher’s Right To Buy scheme in the 1980s
Millions of tenants could get the right to buy the homes they rent from housing associations, it was reported last night.
Boris Johnson told officials in the last fortnight to develop the proposals to help ‘generation rent’.
The plan is intended to give the 2.5million households in England who rent properties from associations the chance to purchase them at a discounted price.
The plan is intended to give the 2.5million households in England who rent properties from associations the chance to purchase them at a discounted price
The plan was inspired by Margaret Thatcher’s scheme that allowed families to buy homes from councils.
Officials are also considering using taxpayer money paid out in housing benefits to help recipients secure mortgages.
Downing Street believes the new version of Right to Buy would help poorer households in red wall seats, reported The Daily Telegraph.
The plan was included in the 2015 Tory election manifesto – but it failed to materialise.
The plan was inspired by Margaret Thatcher’s scheme that allowed families to buy homes from councils
But there’s criticism over whether prices could still be too high and that it would not solve the housing shortage.
A government source said: ‘The Prime Minister has got very excited about this. In many ways it is a replica of the great Maggie idea of ‘buy your own council flat’. It is ‘buy your own housing association flat.’
Robert Jenrick, who was housing secretary, said: ‘Conservatives must be the party of home ownership.’