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Cameron Pledges 200000 Homes in Right to Buy Revamp
David Cameron has promised up to 200,000 extra affordable homes as he unveiled plans to extend Margaret Thatcher's 'right-to-buy' programme.
In an interview with the BBC's Andrew Marr, the Prime Minister said the government is to increase the discounts available to council housing tenants in England who want to buy their own homes.
The move is an extension of the right-to-buy policy, which proved a vote winner for Margaret Thatcher, but critics said crippled the stock of social housing and fuelled a house price bubble.
Cash raised by the sale of council housing will be spent on buying further homes, which will then be rented out at a reduced rate.
Cameron told the BBC: "There are over two million homes that are still available to be bought.
"So this is something that will make a big difference. And again that could provide another 100,000 homes, another 200,000 jobs. "So taking those two policies together that could be 200,000 extra homes, 400,000 extra jobs."
The government's aim is to build one new home - to be let at up to 80% of the market rent - for each property sold.
On proposed changes to the planning laws, Cameron said changes needed to be made to give communities a greater say on the extra housing they need to keep their shops, pubs and post offices alive.
