Mr. Simon Brook:

There are two problems. The first is that it drives a coach and four through the Government’s own policy of equity across tenure as set out in the housing policy statement of 2011, which basically says one should not give special deals to particular groups. By giving a substantial discount to tenants who can afford to purchase, the Government drives a coach and four through the stated policy. Second, it means that any scheme we would be able to offer would not be able to compete with the generosity of the scheme that is envisaged in the Bill. We are a not-for-profit organisation, but we are also a not-for-loss organisation, and we simply cannot afford to sell off-----