Support 100 years of independent journalism.

  1. Politics
  2. The Staggers
23 November 2016

Autumn Statement: Philip Hammond presses ahead with housing association Right to Buy

He is also directing billions towards affordable new homes. 

By Julia Rampen

The Chancellor is pushing ahead with a widely-panned scheme to encourage housing association tenants to buy their homes. 

Philip Hammond said there would be a large-scale regional pilot of Right to Buy for housing association tenants.

The scheme was first outlined by his predecessor, George Osborne, and offers tenants a discount which can allow them to buy their own homes. 

But critics question the value of selling off precious housing stock, and the Chartered Institute for Housing found that even when housing associations were compensated, it would leave a £3.3bn funding gap

Nevertheless, the pilot is a step back from the full-scale roll out promised in the Conservative manifesto. 

Sign up for The New Statesman’s newsletters Tick the boxes of the newsletters you would like to receive. Quick and essential guide to domestic and global politics from the New Statesman's politics team. The New Statesman’s global affairs newsletter, every Monday and Friday. The best of the New Statesman, delivered to your inbox every weekday morning. A handy, three-minute glance at the week ahead in companies, markets, regulation and investment, landing in your inbox every Monday morning. Our weekly culture newsletter – from books and art to pop culture and memes – sent every Friday. A weekly round-up of some of the best articles featured in the most recent issue of the New Statesman, sent each Saturday. A weekly dig into the New Statesman’s archive of over 100 years of stellar and influential journalism, sent each Wednesday. Sign up to receive information regarding NS events, subscription offers & product updates.
I consent to New Statesman Media Group collecting my details provided via this form in accordance with the Privacy Policy

Hammond is also promising a housing stimulus, with £1.4bn targeted at building new affordable homes, and a £2.3bn housing infrastructure fund to deliver infrastructure for new homes.

The Chancellor has banned letting agents from charging renters fees, a policy previously proposed by Labour in its 2015 manifesto. 

He said: “Letting agents are currently able to charge unregulated fees to tenants. We’ve seen these fees spiral, despite attempts to regulate them, often to hundeds of pounds. This is wrong. Landlords appoint letting agents and landlords should meet those fees.”