Angela Rayner insists she does not want to scrap Thatcher’s Right to Buy policy but promises reform

Angela Rayner has ruled out scrapping Margaret Thatcher’s Right to Buy scheme, saying people should have the right to buy the homes they live in.

The deputy prime minister promised reform of the policy, which allows most council tenants to buy their council home at a discount, to ensure the stock of social housing is not depleted.

But, after reports that Right to Buy was to be axed, Ms Rayner told Sky News: “I don’t want Right to Buy scrapped, we are doing a consultation on it at the moment and I am very clear people should have the right to buy.”

She added: “We can’t have a situation where the taxpayer has invested in social housing, and we want to build a generation of social housing… but I can’t have them going out the backdoor at a very high discount where we can’t replace them.”

Last year, 10,896 homes were sold through Right to Buy while only 3,447 were replaced, resulting in a net loss of 7,449. Since 1991, the scheme has resulted in the loss of 24,000 social homes, according to official figures.

Under Right to Buy, which was introduced in 1980 as one of Mrs Thatcher’s flagship reforms, the government sells off council housing at discounts of up to £102,400 to sitting tenants, rising to £136,400 in London.

Ms Rayner bought her council house using the Right to Buy scheme in 2007 with a 25 per cent discount, making a reported £48,500 profit when selling it, albeit eight years later.

Asked about having benefited from it herself, she talked about having been a single mum, adding that “it was one of the biggest moments of my life”.

“I always felt insecure as a child, and when I was able to provide for my child it was an incredible moment for me,” she added. “I think it’s right that if you’ve lived in that house and brought your children up, of course you should have the right to buy it if you’ve been there a long time,” she said.

Ms Rayner said a government review of Right to Buy is looking at ensuring people can afford to buy their council homes while making sure taxpayers get value for money and properties sold can be replaced.

Labour’s general election manifesto promised to review the higher Right to Buy discounts introduced in 2012 while increasing protections on newly-built social housing. Changes are expected in Rachel Reeves’ first budget as chancellor this autumn.

A Ministry of Housing, Communities and Local Government spokesperson said: “Right to Buy remains an important route for council housing tenants to be able to buy their own home but it’s scandalous that only a third of council homes sold under the scheme have been replaced since 2012.

That is why we are working at pace to reverse the continued decline of social rent homes.

“Increasing protections on newly-built social homes will be looked at as part of our wider review but there are no plans to abolish the Right to Buy scheme.”