I have not only read the report but have a copy of it here. I noted with keen interest — as the Labour party will have done — the report's findings, which, of course, reinforce the conclusion of the 1978 survey.
All tenants who have the right to buy, but whose mortgage entitlement does not enable them to buy outright, can choose instead to purchase on shared ownership terms. Those tenants will be able to part-buy and part-rent their homes. They will be entitled to buy an initial share of not less than 50 per cent., with the right to progress to full ownership at any time by buying additional tranches of 12·5 per cent. The purchaser will get discount on his initial purchase and again, pro rata, on his purchase of subsequent tranches. There will be a fresh valuation of the property when each tranche is bought, but the tenant will be entitled to additional discounts as his purchase proceeds. These clauses will benefit particularly tenants who are less well off, and I know that we shall be able to count on the enthusiastic support of the Labour party for our proposals.
Clauses 15 to 20, which apply to voluntary sales as well as right-to-buy sales, will give new protection to purchasers of houses who have to pay service charges, and will also give local authorities new powers to encourage purchasers to obtain their mortgages from the private sector, thus increasing their own capital receipts.