Influential IPPR proposes capping rents at whichever is lower of consumer price inflation or wage growth
One of the thinktanks closest to the Labour government is urging ministers to introduce private sector rent controls in England, as the chancellor weighs up how to ease a surge in living costs caused by the Iran war.
The Institute for Public Policy Research (IPPR) has published a paper calling for a rent “double lock”, which would link rent increases to either wages or inflation, depending on which was lower.
Backroom deals are the norm and it erodes any remaining faith in the process. (86edc9)
Interesting idea from IPPR, but linking rents to whichever is lower of inflation or wages could backfire if landlords just hike rents on new tenancies to compensate.
A ‘double lock’ sounds fair in theory, but with the Iran war driving up costs, won’t landlords just sell up and reduce supply even more?
About time someone proposed something concrete. My rent went up 12% last year while my wage barely moved 3%.
The disconnect between Westminster and the rest of the country has never been wider. (1c6392)