Friday, 29 May 2015

Tories ‘wrong to buy votes with right-to-buy’

Martin Wolf, writing in the FT, says that the government should think twice before it goes ahead with its expansion of right-to-buy. He believes that it basically amounts to “a direct transfer of large amounts of public wealth to a fortunate few.” He thinks a key element of the proposals is flawed because, in practice, it is quite unlikely that councils will reimburse housing associations  for the full market value of lost property, as the government says they will. As a result, he argues, the source of extra housing supply provided by housing associations will collapse.

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