David Cameron will say party backs 鈥渢he dream of a property-owning democracy鈥�, and also pledges 拢1bn brownfield housing fund
The Conservatives will today pledge to extend the right to buy policy to 1.3 million people living in housing association homes if it wins the general election.
Launching his party鈥檚 manifesto later, David Cameron will say 鈥渢he dream of a property-owning democracy is alive - and we will fulfil it.鈥�
The extension of the right to buy policy would require housing associations to sell stock to occupants at a discount, with the government footing the total cost of discounts offered.
The Conservatives said they would pay for the policy by forcing local authorities to sell off their most expensive council housing when it becomes vacant, which it expects would raise 拢4.5bn a year.
In an attempt to assuage fears the policy will result in further reductions in the social housing stock, the Conservatives insist they will ensure 鈥渙ne-for-one replacement鈥� of housing association homes sold under the policy.
A Conservative government would ensure councils built 400,000 new homes over five years through a 拢1bn new fund to unlock brownfield land. Local authorities would submit projects to clean up derelict or contaminated sites.
On the BBC Today programme this morning, Ruth Davison, director of policy at the National Housing Federation, slammed the Conservatives鈥� Right to Buy policy.
She said right to buy was 鈥渢he wrong answer to the housing crisis,鈥� adding: 鈥淗alfway through a programme of austerity why give 拢20bn away to people who already live in secure homes?鈥�
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