As younger voters grow disillusioned with a housing system that denies them real control over their homes, the battle over leasehold has become a test of whether capitalism still delivers on its promises. In this essay, Harry Scoffin, founder of Free Leaseholders, argues that reforming — and ultimately replacing — leasehold with commonhold is not a left-wing cause, but the logical continuation of Thatcher’s popular capitalism. From Randolph Churchill to Margaret Thatcher, Conservatives once championed mass ownership as a bulwark against socialism. Scoffin makes the case that finishing that project could restore faith in markets, revive homeownership and prevent a new generation from turning away from the system altogether.

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