Sean Benstead reflects on the Labour Party’s proposed Community Right to Buy policy and finds that, to truly deliver on its potential to disrupt wealth extraction, requires deep soul searching about the resources and expertise needed to support its implementation.
In unveiling Labour’s proposed Community Right to Buy policy on Tuesday, Lisa Nandy shed some light on her previous commitments to “restore power, ownership and contribution to our communities”. We now know that, if Labour win the next general election, they will ensure that communities not only have an extended first refusal on designated Assets of Community Value through the current Right to Bid policy, but also on long-term vacant high street property, as well as the right to buy without competition and to force the sale of land or buildings in significant disrepair.
“Labour expect that the Community Right to Buy will finally come good on the promise made by Community Right to Bid”
To ensure communities have the means to exercise these rights, Labour will amend the Localism Act 2011 and further develop the Community Ownership Fund. In doing so, Labour expect that the Community Right to Buy will finally come good on the promise made by Community Right to Bid, to enable more community assets to raise revenue that can be used and passed down through the generations in a way which is driven by the wishes of the community.