Jeremy Corbyn: right to buy should be extended to private tenants

Jeremy Corbyn has called for right to buy to be extended to people living in privately rented accommodation.

Corbyn who is in the running to be Labour’s next leader has said that right to buy, which means council tenants can buy the home they’re living in at a discounted rate, should be extended to people renting from private landlords.  This comes after the government are going ahead with plans to extend right to buy to people living in housing association properties.

Corbyn has announced that he will be launching a consultation on this policy. It will go on throughout the summer and the results of this process will be reported before voting for the leadership closes.

The MP for Islington North has said this is just one policy part of a package he will propose to address the housing crisis in the UK.

Corbyn has explained the reasoning behind this proposed policy:

“We know that Generation Rent faces an uphill struggle simply to get into long-term housing. We have seen some good ideas from Labour to establish more secure tenancies for renters. Now we need to go further and think of new ways to get more people into secure housing”

“So why not go with Right to Buy, with the same discounts as offered by way of subsidised mortgage rates, but for private tenants and funded by withdrawing the £14 billion tax allowances currently given to Buy to Let landlords?

“I believe this idea could open up the possibility of real secure housing for many currently faced with insecurity and high rents.”