delete Limits on discount by region
Sets maximum discount limits for the Right to Buy scheme under the Housing Act 1985, prescribing regional discount caps (ranging from £16,000 to £38,000 depending on location), a 30-year qualifying period, and revokes four previous amending Orders. Applies to England only to claims with notices served on or after 21st November 2024.
This regulation perpetuates a distortionary welfare intervention. Right to Buy itself is a wealth transfer from general taxpayers to a specific subset of tenants, creating a two-tier housing market and reducing social housing stock. By capping discounts, this Order maintains government price-fixing in private transactions—classic price control that prevents willing parties from negotiating freely. The scheme discourages labour mobility, incentivizes tenants to remain in properties merely to accumulate discount entitlements rather than relocate for employment, and the discounts themselves are unrecoverable public subsidies. A genuinely free market would allow property transactions between willing parties without government-prescribed discount limits.