Right to buy discounts cost Southwark £230 million since 2012  

Newly certified analysis by the Southwark Liberal Democrats has shown that since 2012, the discount awarded to right to buy properties has cost the Labour-run council £230 million.  

Last year, the council lost 80 homes to right to buy, whilst only starting construction on 1 council home in the same period. Despite claims by the Labour administration, Southwark has over 1000 fewer council homes than it did just 5 years ago according to government figures. 

This comes as a report from the Common Wealth think tank showed that the UK lost 8 times as much council housing to right to buy as it built. The same report also found that since it was introduced by Margaret Thatcher in the 1980s, the policy had cost the public purse £200 billion.  

Southwark Liberal Democrats have written to the council leader asking for her support in changing the law to allow councils to end right to buy in their areas – a policy that the Liberal Democrats have consistently advocated for.  

Commenting, Leader of the Liberal Democrat Cllr Victor Chamberlain said:  

“Forcing councils to sell off their council homes is like trying to fill a bucket of water with a hole in the bottom. Not only are we not building at replacement rate in Southwark, we’re losing 80 times as much council housing as we’re starting to build.  

Labour in Southwark, across London, and now across the country, have failed to tackle the housing crisis. 

Liberal Democrats are clear that councils like Southwark must be allowed to stop right to buy if they are to have any hope of actually ensuring that everyone has a safe, affordable home to live in.”