Rising living costs and the ongoing impact of the Iran war are putting pressure on the UK government to act, and a key Labour ally is now proposing a bold solution: capping private sector rents. The influential Institute for Public Policy Research (IPPR) has released a new paper advocating for a "rent double lock," which would tie rent increases to either wages or consumer price inflation, whichever is lower. This move is seen as a significant step towards addressing the affordability crisis faced by many renters in England, and could have far-reaching implications for the housing market. As Chancellor Jeremy Hunt weighs up options to ease the cost of living burden, the IPPR's proposal is set to spark a lively debate about the role of government intervention in the private sector.
Influential IPPR proposes capping rents at whichever is lower of consumer price inflation or wage growthUK politics live – latest updatesOne 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. Continue reading...
