Theresa May is promising new Right to Buy plans to help "generation rent" in General Election 2017 manifesto

Lynsey Barber
Follow Lynsey
Report Reveals Living Standards Of UK Council Estates
Right to Buy plans will be in the Tory manifesto, unveiled this week (Source: Getty)

The Conservative Party has promised to build more council homes and pledged a new Right to Buy scheme ahead of the General Election to help get "thousands" of people on to the property ladder.

Theresa May said local councils and housing associations will be handed greater powers to build new council homes with some of them earmarked for sale within 10 to 15 years under Right to Buy.

The Prime Minister said her party will "fix the broken housing market and support local authorities and housing associations to build a new generation of council homes right across the country".

Read more: Labour party plans "Robin Hood Tax" and crackdown on tax dodgers

"Giving tenants a new right to buy these homes when they go on the market will help thousands of people get on the first rung of the housing ladder, and fixed terms will make sure money is reinvested so we have a constant supply of new homes for social rent," she said.

The Tories are promising to make it easier for councils to buy land to build on as well as funding.

The exact amount was not at first revealed, but speaking on the BBC's Andrew Marr Show defence secretary Sir Michael Fallon admitted it was no "new money" and it would come from £1.4bn already earmarked for capital expenditure promised during the Autumn Statement.

Related articles