Apparently John McDonnell, Labour's shadow chancellor, is thought to be 'diluting' down his Right to Buy plans which when announced earlier in the year, he said would give every tenant a right to buy their landlord's properties.

He had also suggested that tenants would be allowed to buy their rented home for a “reasonable price” in its party's fight against the “burgeoning buy-to-let market”. He said Labour will target rogue landlords who are in the private rented sector just for a “fast buck” and have no interest whatsoever in maintaining their rental homes.

But according to the Times newspaper, McDonnell has now 'tinkered' with the policy and said it will not apply to every landlord, as those with only one or two properties will be exempt.

McDonnell only wants to target the biggest and wealthiest of landlords.

He said: “There’s a large number of individuals or families who have bought another property as their asset for the future and we wouldn’t want to endanger that.”

The Shadow Chancellor is already promising an immediate spending review if Labour gains power.

Labour's other policies include introducing over the next ten years a four day working week for the UK's workforce and anyone earning between £100,000 and £125,000 will be taxed at the marginal rate of 67.5%.

Richard Merrick of PIMS, said:" Is McDonnell really saying that landlords with three properties are classed as the wealthiest of landlords?

"I do believe that he will stick to the limit of no more than two additional properties with the probable reason being he has a second home, a chalet style bungalow, on the Norfolk Broads.