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By reinvigorating the Right to Buy we will help more people realise their aspiration of home ownership. The increase in the discount, to £75,000 across England from 2 April 2012, more than quadruples the discount cap in London. The level of discount will depend on the length of tenancy.We have not explicitly estimated the number of cases where this will have the effect of increasing the quantum of the discount claimed by purchases within the Greater London Authority area in the first 12 months of operation. However, tenants will benefit from the increased discount. |