Margaret Thatcher's program for the privatization of social housing in Britain was initially seen as beneficial for the lower classes which could now move from rental to ownership at a relatively low cost, gain control over assets and increase their wealth. However, housing speculation took over following the transfers (particularly in the prime central locations), and low-income populations were forced out to the periphery. Ultimately, the new homeowners were also borrowers and paid portions of their yearly income as interest on long-term mortgages, effectively transferring a portion of their wealth to the owners of banks with licenses to create debt money from fractional reserves. Thatcher's council privatization scheme increased the potential number of borrowers in the UK by up to 20% of UK residents who lived in council housing at the end of the 1970s. Contemporary examples include attempts to deprive people of land in places like Nandigram in India and eMacambini in South Africa.