Thatcher’s flagship initiative, forcing councils to sell off public housing at huge discounts, has seen two-thirds of British council homes privatised. Councils are now on the brink of insolvency, largely due to the huge cost of providing temporary accommodation without enough council-owned homes left to go round.
Brand new council houses are also going under the hammer, almost as fast as they are being built as
councils sell off more houses than they build.
"Despite right to buy being so destructive to public finances that it has been abolished in Scotland and Wales, Labour has announced it will keep Thatcher’s policy if it wins the next general election. This U-turn, backtracking on the party’s previous two manifestos, which promised to suspend sell-offs, has bitterly disappointed many local politicians who are desperate for change"
"It’s hardly surprising most councils are not building many homes at all, given they are obliged to sell them at a discount almost as soon as the paint is dry. ... According to research from UCL, right to buy “remains the major disincentive to local authorities building more social rent homes” as the majority of councils rightly fear the policy will impact any new housing developments they undertake"
Just a reminder. Scotland and Wales removed this STUPID policy years ago. An easy example of sanity being brought to bear with devolved assemblies. Roll on independence.