Since then, the scheme – introduced by Margaret Thatcher – has been embraced by governments of all persuasions and has enabled millions of people to get a foot on the housing ladder.
Analysis of government data by HSBC shows that in the tax year, 2009/10, just 4622 Right-to-Buy sales took place across the UK. This is down from 6716 in 2008/9 and represents a fraction of the 193,600 that took place in 1982/3. Right-to-Buy sales have been steadily reducing since 2003/4 (91,988) when incentives for buyers were reduced.
Thirty years after its introduction, the Right-to-Buy give away has now exceeded that of all the privatisations of the 80s and 90s put together.
Since its introduction, Local Authorities have received £45.5billion capital receipts for the Right-to-Buy scheme. With an average discount of 47% on the property value over this period, the value of assets given away amounts to £40.4billion.
* The total value of council homes sold amounts to £85.9billion, making it by far the largest "privatisation initiative". The value of council homes sold exceeds the value of the entire privatisation programme put together;
* The present value of the stock of council houses sold off is in excess of £185.6billion
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