Government to revive Right to Buy
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Government to revive Right to Buy
The government has pledged to revitalise the Right to Buy scheme, originally introduced by Margaret Thatcher, as part of its economic strategy announced during the Conservative Party’s annual conference on 3rd October 2011
Chancellor George Osborne said that government would increase Right to Buy discounts for council tenants wishing to buy their own homes, and would use the receipts from sales to build 100,000 homes. The previous government reduced discounts but to low levels.
The government also repeated its proposal announced earlier this year to create a further 100,000 homes by releasing developed but disused public sector land. Under the plan, developers can opt to “buy now and pay later” for land.
The government also repeated its proposal announced earlier this year to create a further 100,000 homes by releasing developed but disused public sector land. Under the plan, developers can opt to “buy now and pay later” for land.
The measures would create up to 400,000 jobs, Osborne said.
