Member

Lastly, Amendment 22 in my name probes the rationale behind setting a 35-year time limit before the right to buy arises on newly built social housing. To be clear, we recognise the manifesto commitment to increase protections for newly built social housing, but why 35 years? Landlords are already protected by a floor price, which should reflect the cost of building that home. We appreciate that the calculation of floor prices could be improved—for instance, by taking into account the value of land that has been transferred to a housing revenue account at zero cost—but why is there a need for a 35-year time period? Why not five, 10, or 15 years? I am interested to hear of the evidence base behind setting a 35-year limit, or is this just a further attempt to undermine right to buy? I hope that the Minister can provide some further details on this. I look forward to her response, and to the contributions of other noble Lords to this group. I beg to move.