JAMES Young (Letters, July 6), may be interested to know that I was aware of the Right to Buy, introduced in the 1954 Labour manifesto.

However, this was an entirely different scenario. In fact, a far different remedy that at the time, was not - unlike the Thatcher methodology, predicated on a far reaching premise to completely change the landscape of social housing.

Putting to one side some of the other points that Mr Young kindly mentions, his idea that “house price wealth gains” be instigated, does appear at first glance to be credible.

But of course, because “wealth” has a habit of being used to tweak and influence current policy via politicians and other vested interests, I do not think that such a transformation would actually work.

So far as the haves and have nots are concerned, this pernicious situation will continue. Besides, again, wealth will see to it that those who control it will always see to it that it stays that way.

Why wouldn’t they?

After all, the have nots are far too busy watching telly or buying stuff to really care.

Or trying to earn enough to feed their children and pay the rent.

Lastly, if I may, there are lots of those capital-rich Londoners here in Dorset.

There are many in Weymouth and Dorchester too.

As for that £4 trillion increase in house prices, it is pie-in-the-sky cash until it’s released.

One good reason why interest rates have not risen for ages.

When it does, those with big wealth will take it on the chin - the rest will be weeping and wailing and rue the day they jumped aboard the cheap mortgage bandwagon.

Andrew Martin Kitchener Road Weymouth