Grant Shapps has also been elaborating on the changes to the Right to Buy. He told the BBC:
“If you want an admission, I would say it was an incredible policy at giving people the right to own their own home, to some of the most hardworking people in the country, and gave them that chance, but actually the money wasn't recycled into building more affordable homes.”
Discounts that were reduced under the previous government will be increased to encourage greater take up of the scheme. Shapps envisages100,000 tenants will buy their homes. The proceeds will be reinvested in buying further housing stock, which will be rented out at reduced rates. Or that’s the plan at any rate.