Well, that’s a complicated story. Obviously, the land costs have to be accounted for, but the point is, if the receipts aren’t sufficient to build another home, then you’re always going to be having a decreasing supply. In the current situation, where we’ve got 90,000 people waiting for a home, it would be reckless of us to not suspend the right to buy in the meantime.

So, although this was hailed as one of the most important social revolutions of the century, instead it has spawned fractured communities, boosted exploitative landlordism and created a severe lack of social housing that has made ‘Cathy Come Home’ a twenty-first century reality again.

Private rented accommodation is so much more expensive that it condemns many families who fall back into private rented accommodation to stop working and become dependent on housing benefit in order to pay the rent. And then, on top of that, families have to move year on year, never able to put down roots and establish a stake in communities. For children, the burden is even higher, moving school every year—or, even worse, in-year—they are bound to do less well academically than if they’d completed their education in one primary school and one secondary school. The alternative is children have to travel very long distances to remain in the same school, impacting on their well-being and more vehicles on the road.

So, after decades of right to buy, and a failure by successive Governments of all stripes—I agree, of all stripes—to address the acute housing shortage, Welsh Labour is absolutely taking the right decision to protect social housing, and I applaud this initiative. It was hailed as one of the most important social revolutions of the century. Instead, 30 years later, it’s fractured communities and made for an enormous amount of disconnect.

Overall, Wales has lost nearly half of its social housing stock—over 90,000 households on the council waiting list, and we can’t afford to lose any more. This disaster has been a slow burn. I agree that, in the 1980s and the 1990s, the numbers living in private rented accommodation were relatively stable, at around 10 per cent of the total, but it’s now almost 20 per cent, and, in the 20 to 39 age groups, it’s jumped to 50 per cent. So, generation rent is not about to disappear any time soon.

If you think that the right to buy has led to the nirvana of a property-owning democracy, think again. Over 40 per cent of those right-to-buy homes—the Tories applaud the ability of people to buy their own home—have actually fallen back into the hands of the private rented sector, where they continue to milk more and more public funds in housing benefit payments. Across the UK, housing benefit has ballooned from £7.5 billion in 1991 to £22 billion 20 years later. We really cannot afford to go on like that. A third of the private rented stock of 4.5 million nationally is part or wholly funded through housing benefit. So, this genius idea of a social revolution has led to an expanded private rented sector in large part subsidised by spiralling rates of housing benefit. It’s not sustainable, and it’s absolutely right that we suspend the right to buy whilst we build more homes.