I propose to take Questions Nos. 655 and 675 together.
Part 3 of the Housing (Miscellaneous Provisions) Act 2014 provides for a new scheme for the tenant purchase of existing local authority houses along incremental purchase lines. Under the 1995 scheme, discounts were related to the length of tenancy rather than income, with no provision for the State to share in any profits arising from the resale of dwellings. In contrast, discounts under the new incremental purchase model are much higher than under the 1995 scheme and, because the discounts are income-related, they will enable tenants to purchase their homes earlier in their tenancies than was the case under previous schemes. The new scheme will encourage tenant purchasers to remain in their dwellings for a reasonable length of time after purchase, thus fostering stable and sustainable communities.
The Government’s Social Housing Strategy 2020, which was published in November 2014, includes a commitment to introduce the new tenant purchase scheme in the second quarter of 2015. Full details of the new scheme will be set out in Regulations that will be made in advance of its introduction.