£3.5 Billion Right-To-Buy Discounts Threatens Scheme

New analysis by the Local Government Association reveals almost £3.5 billion in Right to Buy (RTB) discounts have been handed out to council tenants over the past six years. The LGA, which represents 370 councils in England and Wales, is warning the RTB scheme has become unsustainable and risks becoming a thing of the past unless councils are given the powers to set discounts locally and replace every home sold. The Government increased the size of the discounts available in April 2012, as a result the average discount has increased by 132 per cent to more than £60,000 in 2016/17 – selling properties at almost half price. Read more on the LGA website.

https://www.local.gov.uk/about/news/ps35-billion-right-buy-discounts-threatens-scheme