Housing

New communities secretary Greg Clark has the least enviable job in the cabinet: justifying the policy of extending the right-to-buy to housing association tenants. The policy, hastily put together in the early stages of the election campaign, was roundly condemned from across the political spectrum. Dominic Lawson, not a noted socialist, for example pointed out that unlike council homes the state does not own housing association properties and therefore has no right to sell them. It will, in effect, require compulsory purchase – and for the purpose of private gain. After 24 hours in the sunshine, the right-to-buy policy was hardly mentioned by the Conservatives for the rest of the election campaign.

The general election campaign has entered the final stretch and each day between now and polling day, we'll be producing a short lunchtime podcast looking at the day's campaign developments. Today, Fraser Nelson, James Forsyth, Isabel Hardman and I discuss Labour's new housing pledges, the 5,000 small businesses backing the Tories, the hysterical talk of the SNP threat — as well as the unfathomable state of the opinion polls.

Economists have for some time spoken of a ‘great inversion’ of London, whereby property price hikes in inner London, often linked to gentrification, has made suburbia comparatively more affordable. These changes, marked in the five years since David Cameron became Prime Minister, could have a profound effect on how the general election result pans out in the city. This is especially the case given the ability of such changes to affect the social and demographic makeup of London, as people from poorer backgrounds, the young and ethnic minorities are more likely to be susceptible to price increases in the private rental market.

It’s supposed to be the Tory housing week, with David Cameron setting out plans to double the number of discounted starter homes to 200,000. It’s an important, salient issue to make election promises on. But more salient is immigration, and somehow the Tories are having to talk about that again today. Today's Times contains a plea by Ken Clarke that Cameron drop the Tory target to drive net migration into the ‘tens of thousands’, given its failure in this parliament. Ministers have oscillated between blaming the Lib Dems and blaming Europe for missing the target (they could also blame the growing economy, as Fraser explains here) and David Cameron did closely tie controlling immigration to European reform in his speech before Christmas.

Tomorrow, in a sign of how keen the Tories are to keep the political debate focused on it, both David Cameron and George Osborne will give speeches on the economy. Cameron will announce that he is bringing forward a scheme to offer first-time buyers under 40 a 20% discount on 100,000 new home. This scheme had originally been slated for the Tory manifesto but will now be up and running before May. Inside Number 10, they hope that this scheme will help demonstrate that there are tangible benefits for voters to sticking with the Tories and their long term economic plan.   Later on, Osborne will use an address in New York to challenge Ed Miliband on whether Labour would repay any of the national debt.

One of the most striking things about the Lib Dem conference is not that the party has decided to be mean about the Tories in a mildly obsessive and weird way, but that Nick Clegg and colleagues have also been softening the red lines that could really stop them returning into coalition with the Conservatives. At a fringe meeting today, even Vince Cable managed to say a number of nice things about his coalition partners on housebuilding. Asked whether the Tories and Lib Dems had started to disagree over new housebuilding so much that they'd really run out of road to share after 2015, Cable replied: 'No, there are some positive things that are happening on housing, which we do agree with them on.

The Tories have begun to roll out their conference offer to voters. Today, they’ve announced that if re-elected, first time buyers under 40 will be offered properties to buy at a 20 percent discount. There will be a 100,000 houses available under this scheme, all built on brownfield land. The discount will be achieved by exempting the construction of these homes from various taxes and levies.   Tories win elections when they extend home ownership and this idea will have some resonance with aspirational voters worried about how they’ll ever afford a home There will, though, be those on the right who worry about this extension of Help to Buy, arguing that it encourages a reliance on cheap credit.

The government has just lost a vote in the House of Commons on the 'bedroom tax'/removal of the spare-room subsidy/underoccupancy penalty/Size Criteria for People Renting in the Social Rented Sector (the correct, if rather clunky, name). There was a three-line whip from the Tories on the vote, but the Lib Dems had decided they would support their colleague Andrew George's bill to exempt those who cannot move to a smaller home, or who are disabled and live in an adapted property. The Bill had its second reading in the House of Commons today, and passed 306 votes to 231. Jacob Rees-Mogg moved an amendment that the Bill should be considered by a select committee, in an attempt to slow it up, but it was also defeated.