The right-to-buy policy has been extremely successful across the UK, and especially in Wales, because it responded to the aspirations of those on lower incomes to purchase their own homes. As I have consistently argued, the problems with the housing market have arisen due to a lack of housing supply, and especially in Wales—not because of the 300 or 400 homes that are now annually sold under the right-to-buy schemes. Some 139,000 council and housing association homes in Wales have been sold since the right to buy was introduced in 1980 under Margaret Thatcher's Conservative Government—139,000 homes in Wales; a remarkably successful policy. How could you have a better test of a policy's relevance and success?

The Welsh Conservatives, Deputy Llywydd, have tried to offer sensible ideas of reform for this popular policy so that abolition could be avoided. The Welsh Government has not been prepared to listen, and we regret this. We then attempted to make this right to buy abolition Bill fairer. We tried to provide a fairer outcome for those tenants in the currently suspended areas so that they, too, could get one last chance to purchase their property—denied to them.

We also offered an amendment with the intention of limiting the Act's operation to 10 years, following which the Welsh Ministers may lay regulations proposing that the abolition is made permanent. We did this because the Welsh Government made it clear in committee that it was not against the right to buy in principle. So, I tested this point—but alas, again, denied. No response.

Another amendment that would've ensured that the abolition of the right to buy and associated rights may not have come into effect until at least two years after the Bill receives Royal Assent was also denied, despite the fact that this was what happened in Scotland to allow a calm period of transition. These amendments were laid in response to the views of tenants throughout Wales who want more house building and would prefer alternative solutions to permanent abolition. Instead, this Bill intends to take their aspiration of home ownership away from them forever.

Deputy Presiding Officer, should we get the opportunity, the Welsh Conservatives will aim to reintroduce the right-to-buy policy with a reformed structure for the modern housing climate. These reforms would include ring-fencing the right-to-buy receipts so that they are reinvested into new social housing stock and removing the right to buy's applicability to new housing stock until it has been rented to a social tenant for a certain number of years.

In conclusion, this Bill does not serve the people of Wales well. It serves rather a narrow, left-wing ideology, oblivious to all the evidence and decades of success in its application as a policy. We will go on reflecting the aspirations of many tenants. Even at this stage, I urge Members to reject this Bill.