"Right to Buy extension can only work (as previously proven) if you have plans to replace the lost stock. It's all a bit airy-fairy on that."
That's putting it mildly.
Liz Truss was on the radio at lunchtime breezily half-answering questions. The gist seemed to be that 'they' would fund new building by making councils sell off very expensive houses.
Clearly most are likely to be in Central London - and presumably have tenants who couldn't afford to mortgage/buy, so would have to be made homeless first...
In addition she seemed to be saying that the proceeds from such sales would then be cash for the Government to spend on new houses.
I can understand why some people were/are ideologically opposed to sell council (and now HA) housing.
I can understand why some people are ideological in favour of selling those houses to create more owner occupiers.
What I can't understand (okay I can) is why the right to buy doesn't extend to a privately owned property!
Subsidising owner occupation is a political decision, and not a cheap one.
What is very unclear in the new/current Conservative plan, is how much the discounts would be (in total) and exactly where that money is coming from. In one sense it is purely bookkeeping because the discount wouldn't have to be found in cash - just be that the income would be less than the market value. BUT building the replacement houses would require the discount to be 'found' and almost certainly more cash - unless they were all in 'cheap' areas.