The Conservatives are planning to revive Margaret Thatcher’s controversial right-to-buy scheme if voted into power next month
The party’s manifesto, which is set to be published later this morning, will reveal plans allowing 1.3 million housing association tenants to buy their homes – a resurrection of Thatcher’s 1979 policy for council housing tenants.
It is believed the discount for those buying their properties will be capped at just over £102,700 in London and £77,000 for the rest of England.
Council tenants who have been in their house for more than five years already have the right to apply to purchase their home with a 35 per cent discount but this doesn’t extend to those living in housing association properties.
The policy would be paid for by forcing councils to sell off their most valuable properties from their remaining housing stock, which the party believes would raise around £4.5 billion a year.
Once the homes have been sold, the councils will be required to replace them with affordable stock on a one-to-one basis.
But the move has come under fire from critics, with many commentators taking to Twitter to voice their concerns.
The party also has plans for a Brownfield Regeneration Fund to unlock brownfield land and deliver 400,000 homes over the next parliament.