The building societies and the Conservative's housing strategy into the late-1980s

TLDR: The Building Societies Association (BSA) as mentioned in this paper has proposed a new legislative framework which will enable its members to take on a broader role in the housing market and a Government consultative paper on the matter is expected out this month.

Abstract: Council house sales are declining ’Right to Buy’ scheme runs out of steam. This provides an opening for the building societies to widen their role in the housing market and a new way for the Tories to undermine public sector provision. The author sets this against weak opposition from local authorities who cannot afford to compete in the ideological and media battle which will ensue. The Building Societies Association is asking for a new legislative framework which will enable its members to take on a broader role in the housing market (BSA 1984). A Government consultative paper on the matter is expected out this month. If the BSA has its way the push to increased owner-occupation will be given a boost greater than that provided by the Conservatives’ ’Right to Buy’ policy. The building societies it would seem are planning to take over the housing world. ’Not just for ourselves’ according to Clive Thornton, former Chief General Manager of Abbey National ’but for the good of housing in this country’ (Abbey National Building Society, 1982), Leading Conservative party figures believe that a greater role for building societies could also benefit them and provide the weapon necessary to finally undermine public sector housing provision. There are three arguments to be considered if the above scenario is to be seen to be a plausible prospect. First, evidence mounts that the council house sales policy is rapidly running out of steam and is unlikely to make any further great inroads into the stock of local authority housing. Second, a detailed examination of the BSA proposals combined with the existing practice of a number of building societies reveals a clear desire for societies to take a wider role in the housing field in a manner which is proving very attractive