Business
Right to buy in England ‘fuelled housing crisis and cost taxpayers £200bn’ | Housing

Margaret Thatcher’s right-to-buy scheme has cost UK taxpayers almost £200bn, according to a report into the policy’s contribution to Britain’s housing crisis.
In its report into the sale of millions of council homes to their tenants at steep discounts since 1980, the Common Wealth thinktank said the policy had fuelled vast shortages in social housing and turbocharged inequality.
Describing it as one of the “largest giveaways in UK history”, it said the sale of 1.9m council homes in England had contributed to a situation where one in six private tenants in England now rents a former local authority home.
Local authority tenants have been able to buy their homes since 1936, but changes made under the first Thatcher government in 1980 triggered a boom in sales at steep discounts to market value.
Calculating the “opportunity cost” of the sales, Common Wealth said the former council homes were now worth an estimated £430bn after taking account of inflation and the surge in property prices since 1980.
Of this sum, the thinktank said £194bn represented the value that was effectively given away when the homes were sold at a discount. Between the years 1980-81 and 2023-24, the discount averaged 43% on the prevailing market price.
The report comes as Angela Rayner, the deputy prime minister, pushes to tackle Britain’s housing crisis by making sweeping changes to right to buy, including making it harder for tenants in England to buy their council home.
Under the planned changes, eligibility for the scheme will be tightened. This will include extending the minimum time a council tenant must live in their home from three to 10 years before they can buy it at a discount.
Right to buy was launched by Thatcher as a pitch to older working-class voters to build a “property-owning democracy”. Although it helped millions of families into home ownership, it also dramatically depleted Britain’s affordable housing stock as the homes were not replaced.
After rising for decades, home ownership rates have fallen since 2004, and have collapsed among young adults. From a peak of more than half of 25- to 34-year-olds owning their own home in 1990, less than a quarter of young adults are now property owners,leading to a boom in private renting and many choosing to live with parents.
After decades of sharply rising property prices, Common Wealth said, local authorities have lost the use of housing assets that could have either been sold at higher market values or used for social housing.
Chris Hayes, the thinktank’s chief economist, said: “The severe financial straits facing councils should be seen in the context of a decades-long assault on local government, in which right to buy was a central pillar, denying councils discretion over how best to use assets that they had built.
“Now those assets are in dire shortage and councils still bear the heightened cost of seeing people through the housing crisis.”
Many of the properties are now rented out, often to tenants on housing benefit at a cost to local authorities of more than £20bn year, while councils have lacked funding to replace the homes sold.
The leftwing thinktank, which has links to senior Labour cabinet figures, said local government has been in “net disinvestment” in every year but one since 1988-89 – meaning it sells more assets than it builds. A report earlier this year by the Centre for Cities found that returning the number of affordable homes back to 2010 levels would cost the government £50bn.
Labour has pledged a “social rent revolution”, allocating £39bn of social and affordable homes over the next 10 years, alongside slashing planning rules to support private sector housebuilding. However, critics have warned that the government could struggle to hit its target to build 1.5m new homes in total.
Kwajo Tweneboa, a social housing campaigner, said right to buy had “gutted council housing and transferred public wealth into private hands”.
“We’re in a housing emergency. Millions stuck on waiting lists. Tens of thousands living in temporary accommodation that’s unfit and unsafe. All while homes that were once publicly owned are now profit-generating assets for private landlords,” he said.
Business
Shadow AI enters workforce, employees embrace AI adoption: IBM

Developments in artificial intelligence (AI) have made their way into corporate environments as employees report using tools for work without formal approval from IT departments.
IBM says the growing reliance on personal AI tools in the workplace introduces serious risks to Canadian businesses, from potential data leaks and compliance issues to losing control of sensitive business information. Shadow AI, the use of software without oversight, costs nearly $308,000 per data breach, according to the company.
“It’s only growing until we actually are able to lock down the use of shadow AI, enable our employees and enable our organizations, but through sanctioned, governed, secured AI,” Daina Proctor, Canadian security services leader for IBM Canada, told BNNBloomberg.ca in a Friday interview.
A shadow AI survey from IBM found that while 79 per cent of full-time office workers said they use AI at work, 25 per cent rely on enterprise grade AI tools. The rest rely on a mix of personal and employer tools (33 per cent) or entirely on personal apps (21 per cent).
IBM said while AI tools offer organizations the opportunity to significantly improve productivity, the technology presents new challenges such as security threats. Despite the risk, the survey found AI adoption in the workplace is being led by employees.
“AI adoption in the workplace is no longer theoretical, it’s happening, and it’s being led by employees,” said Deb Pimentel, president of IBM Canada, in a news release. “To securely and efficiently harness the value of AI for smarter business operations, leaders should prioritize secure solutions, align AI with tangible business objectives, and foster a data-driven culture.”
Canadian workers overwhelmingly reported viewing AI as a tool that makes them better at their jobs as 97 per cent said they agree AI improves their productivity at work, 86 per cent felt confident using AI, and nearly 80 per cent said AI allows them to spend more time on the strategic or creative aspects of their roles.
“As humans, we’re going to find things to help ourselves to evolve ourselves to get more efficient, to get more creative to get more productive,” said Proctor. “As the saying goes, ‘water will flow downhill.’”
Surveyors found Canadian workers believe AI allows them to save time. More than half (55 per cent) said AI saves them between one and three hours per weeks and 26 per cent reported saving up to six hours. About 61 per cent of employees surveyed said AI allows them to complete a task faster, 43 per cent said AI enables more efficient workload management, 40 per cent said AI allows improved accuracy and 39 per cent said AI enables increased creativity.
While employees report using AI, highlighting benefits, only a small handful of surveyed employees (29 per cent) believe their employer is using AI to its full potential. Nearly half of workers (46 per cent) said they would leave their current job for one that uses AI more effectively.
Proctor said she wants companies to invest in AI so that employees don’t have to use personal devices.
“Organizations need to provide secured enterprise grade AI tools, or else we as individuals, we as employees, are going to find the AI tools that maybe our organizations don’t really want us to, so we need to close that gap,” said Proctor.
She said businesses are openly leaning into AI in a proactive, collaborative approach tailoring programs to ensure that their confidentiality, regulatory and conduct requirements are met to bridge the gap of what they need and what employees expect.
Methodology
The research was conducted by Censuswide, among a sample of 4,000 full-time office workers who are not sole proprietors and are familiar with AI tools in the USA, Canada, Mexico, and Brazil. The data was collected between May 23 to May 30, 2025.
Business
Funding extension for school holiday club programme in Cornwall

A programme providing school holiday clubs for thousands of children in Cornwall has been extended.
The Time2Move holiday programme supports families with activities and healthy food for children aged between five and 16, and is fully funded for those eligible for benefits-related free school meals, the government has confirmed.
The government announced a three-year extension for the scheme, as part of a £600m investment nationally.
The programme is run by Active Cornwall, which brings together providers across the county, and said £8m had been invested in it since 2021.
Tim Marrion, partnership manager at Active Cornwall said: “We know that school holidays can bring particular challenges for families on lower incomes and children can face triple inequalities of social isolation, poor diet and low levels of physical activity over the holiday periods.
“Through our Time2Move programme we make a real difference for over 12,000 children and their families each year, so this funding extension is very welcome news”.
The programme is fully-funded by the Department for Education and is known nationally as the Holiday Activities and Food Programme.
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