Member

As a result, the Government brought forward the secondary legislation that we are debating today to return the maximum right-to-buy cash discounts to pre-2012 levels. Discounts now range from £16,000 to £38,000, depending on where a tenant lives. Reduced discounts will better protect council housing stock to meet future housing needs and better enable councils to replace the homes sold. An estimated 25,000 homes will stay within the social rented sector over five years, meaning the sector will be larger as a result. Where homes are sold, councils will retain a larger portion of the receipt to build and acquire new homes. Social tenants—an estimated 1,700 a year—will still be able to buy their own home.