View more on these topics

Tory ‘Right to Buy’ extension slammed by political rivals

Conservative plans to extend the Right to Buy programme to housing association tenants were slammed in last night’s BBC opposition leaders debate. 

The Tories announced the plans ahead of their manifesto launch last week, promising that 1.3 million tenants could qualify for discounts of up to 35 per cent in seeking to buy housing association properties.

The housing plans will be funded by a requirement on council homes to sell off their most expensive housing stock when it is vacated, with councils forced to build cheaper homes on a one-to-one basis.

However, the proposals were condemned by Labour, the SNP and Plaid Cymru last night.

Labour leader Ed Miliband said: “I don’t think the Tory plan works because there is no money for it. All it will mean is the social housing stock being watered down and fewer homes to rent.”

Housing is a devolved policy area, meaning it is run in Scotland and Wales by local authorities. Both nations have ended Right to Buy schemes.

SNP leader Nicola Sturgeon described the policy as “one of the worst ideas I have ever heard” and insisted Right to Buy was “a policy that has had its day”.

Plaid Cymru leader Leanne Wood agreed, describing the Conservative plans as “one of the worst policies I can think of if you are thinking about reducing homelessness”.

“This will increase levels of homelessness and that’s not on,” Wood said.

Ukip leader Nigel Farage added: “A rapid rise in population due to open door immigration…has directly contributed to the housing crisis.

“If you have net migration running at 300,000 a year, that’s 300,000 people who need somewhere to live.”


Nigel Benton: Rise to the challenge, reap the rewards

The appeal of working in the financial services industry has always been great but many young people will likely turn to banks, building societies and insurance providers when looking to start a career in the space. Meanwhile, the specialised financial advice sector is often overlooked as an entry point. To succeed in this arena you […]


Is Shell/BG merger a catalyst event or natural market evolution?

The £47bn merger of Royal Dutch Shell with BG Group could be one of the biggest of the past 10 years, with the resulting company having a value of more than £200bn.  If the deal goes through, the combined company would be worth 9 per cent of the FTSE 100 and around 7.5 per cent of […]

Christine Lagarde 2013 700x450.jpg

IMF knocks back Greek hopes of loan extension

The International Monetary Fund has rejected requests from Greece to extend the deadlines on loan repayments, according to reports. IMF managing director Christine Lagarde said yesterday that Greek ministers should instead focus on restructuring the debt-ridden nation’s economy rather than seeking an extension, the Wall Street Journal reports. “It’s clearly not a course of action […]

Nobody expects the Spanish Inquisition

Paul Fidell, Head of Business Development (Investments), writes about one of the primary challenges for those involved in estate planning. He looks at dealing with investment uncertainty in these low growth, low inflation but still volatile investment conditions. Protection of capital, to leave something for beneficiaries, is a fundamental objective of many people’s plans for […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm