By City AM reporter The Chancellor will cut back Right to Buy discounts as part of next week’s Budget to boost council housing supply. Rachel Reeves will announce plans to consult on a new five-year social housing rent settlement and to reduce Right to Buy, which allows tenants renting local authority-owned homes to buy them at a discounted rate, in order to protect existing council stock and keep council homes in the sector. The moves are part of a housing package that includes £500m in new funding for up to 5,000 new affordable social homes and £128m to support delivering 33,000 new homes th…