Question to the Department for Levelling Up, Housing & Communities:

To ask Her Majesty’s Government, further to the Written Answer by Lord Ahmad of Wimbledon on 15 January concerning the Right to Buy scheme (HL4050), how many social housing units were lost to provide the £600 million; how many will be provided from that money; what consideration they have given to the wider fairness of offering property at a discount to those who have already enjoyed a social housing tenancy; and whether Stamp Duty on such sales is levied at full market value or on the discounted value.

The Government is committed to helping tenants achieve their home ownership aspirations. The Right to Buy Scheme has helped almost 2 million households to enjoy the benefits of home ownership, including greater independence, and the security of owning a valuable asset.

Over £600 million has been generated from 14,731 additional Right to Buy sales since the policy was reinvigorated in April 2012. All but two stock holding authorities have entered into agreements with the Government to replace that stock on a one-for-one basis within three years, and any one-for-one receipts not used by authorities will be returned to the Homes and Communities Agency or the Greater London Authority for investment in new affordable housing.

Stamp Duty is worked out as a percentage of the price the tenant pays for a property. Information on Stamp Duty can be obtained from: www.hmrc.gov.uk/sdlt/intro/rates-thresholds.htm