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TODAY'S OTHER NEWS

Labour ditches Right To Buy for private tenants

Labour has dropped its controversial policy under which private tenants would have been able to buy their homes at a discount.

Press reports over the weekend indicated that the policy - originally created by Shadow ChancellorJohn McDonnell - was now regarded as too complicated to be included in the party’s manifesto for the December 12 General Election.

Two months ago McDonnell told the Financial Times that under a future Labour government discounts could be made available to tenants - just like the old Thatcher Right To Buy policy for council house renters. 

That would allow purchases by private tenants to be made at below market value; the policy, at that time, was proposed to apply to all private tenants and landlords.

Then two weeks ago McDonnell has told another paper - The Times - that he had re-thought the original proposal and it should apply only to the wealthiest landlords and not those who only own “one or two” rental properties. 

“There’s a large number of individuals or families who have bought another property as their asset for the future and we wouldn’t want to endanger that” he told The Times in early November.

Now it appears the policy has been ditched completely.

abour’s controversial proposal to oblige landlords to sell their buy to let properties to tenants who wished to purchase them, unveiled in September, is being toned down.

Two months ago Shadow Chancellor John McDonnell told the Financial Times that under a future Labour government discounts could be made available to tenants - just like the old Thatcher Right To Buy policy for council house renters. 

That would allow purchases by private tenants to be made at below market value; the policy, at that time, was proposed to apply to all private tenants and landlords.

However, now McDonnell has told another paper - The Times - that he has re-thought the original proposal and it should apply only to the wealthiest landlords and not those who only own “one or two” rental properties. 

“There’s a large number of individuals or families who have bought another property as their asset for the future and we wouldn’t want to endanger that” he told The Times.

  • icon

    Trying to win some landlord votes back ? Whilst keeping the policy withdrawal low key so the tenants still vote for them

  • icon

    So easy to be radical when you're not the government. More difficult to sell in a GE. Idiots.

  • Paul Barrett

    Now that Labour has considered expropriation Labour can never again be trusted.
    You'd have to be an idiot LL to vote Labour!
    Risking such expropriation must surely mean that the AST letting market to one household is finished.
    What would be the point in being an AST LL if there is a risk every 5 years of losing everything to some scroat of a RTB tenant!?
    It makes no business sense.

  • Angus Shield

    Clearly many socialists are landlords too comrad Corbyn; dangerous games in the vote arena!

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