Housing (Right to Buy) (Maximum Percentage Discount) (England) Order 2014

All sales of council houses clearly generate income that returns to the Exchequer. That has been the case since right to buy was first introduced. That money will be used for a range of purposes. When this Government came to power, we introduced a reinvigorated scheme to encourage more people to buy their council homes than had done so over the preceding years. We wanted to make it possible for more people to purchase homes. When we did that, and because we knew that it would lead to an increase in purchases of council housing, we said that the money received from the sales of houses that were made available under the reinvigorated right to buy would, for the first time, go right back in full to the local authorities that had sold those properties, and they would have to use that money to build replacement social housing. That had never happened before; that is what is new, and that has been the policy since it was introduced.