Deputy prime minister John Prescott has put wider home ownership at the heart of Labour’s election campaign. Unlike other cabinet members who want to see an accelerated drive to sell public housing, Prescott is in favour of more direct intervention. The government hopes to set up a joint fund with mortgage lenders offering subsidised low interest loans for people on low incomes. A “social home-buy” scheme would also offer around 300,000 council and housing association tenants the chance to buy a part-share in rented homes at a discount. Prescott said: “We are not extending the right to buy. We are creating a fairer system helping those on lower incomes and helping contribute to greater wealth distribution.” The Housing Corporation fear that an increased sell off in social housing would leave it with a large gap in its budget.