The Member who has heckled describes the Bill as I would—rubbish.
In fact, on balance, the likelihood is that the Bill will make the crisis even worse. As a result, London’s famed social mix is under threat. Many parts of inner London could be hollowed out, with the city becoming the preserve of the very rich. Do not just take my word for it. When the Government published this Bill, the heading on an Evening Standard editorial was “Don’t lose social houses to fund right-to-buy”. I kept a copy of the newspaper from that day. The editorial said:
“The most serious objection to the Government’s proposal to allow housing association tenants to buy their homes at a discount is that its effect would actually be to diminish the amount of social housing in London at a time when demand is increasing. To fund the discount, councils would be obliged to sell off higher-priced council homes—and given the level of property prices in London, this could, potentially, be disastrous in its effects.”