Thousands of military homes will be brought back into public ownership at a cost of almost £6 billion. The Ministry of Defence will buy back 36,347 homes from property firm Annington, reversing the 1996 privatisation process. Defence Secretary John Healey welcomed the sale, saying it is "a chance to upgrade military homes and widen the offer of home ownership for forces personnel". Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00Well, I want to say you perform the ultimate public service, you're ready to make sacrifices
00:07to keep the rest of us safe. The least you deserve for you and your families is a decent
00:12home. We've not been doing that for decades. This is a decisive break with a failed past.
00:19It's a chance to upgrade military homes. It's a chance to widen the offer of home ownership
00:25for forces personnel. And it's a chance also to make better use of the MoD estate. And
00:30this is a new government and me as Defence Secretary saying we want to renew the contract,
00:36the nation's contract with those who serve. This is saving taxpayers money. It's a good
00:42value for money deal. It means that we are not spending £600,000 a day paying rent on
00:50homes we can't improve, on homes we don't own. And it gives us back control to be able
00:57to plan for the future.