No 10 dismisses Reeves’s reported plan for freeze on private rents
Summary
Downing Street has rejected plans to freeze private sector rents, despite Chancellor Rachel Reeves considering it to help reduce living costs after the Middle East conflict raised housing expenses. Reeves did not fully rule out the rent freeze idea and said she would use all tools available to lower the cost of living for renters.Key Facts
- The UK government said it will not freeze private rents as a way to control housing costs.
- Chancellor Rachel Reeves has been reported to support a one-year rent freeze on private landlords, excluding new homes.
- The plan aims to help households affected by inflation caused by the Middle East conflict and rising oil prices.
- Rent freeze proposals caused some UK buy-to-let lender shares to fall.
- Some Labour MPs support the rent freeze, while others worry it would reduce rental home supply.
- Experts say rent controls lower rents where applied but increase rents on uncontrolled properties nearby.
- Labour recently introduced renters’ rights reforms that do not include rent controls.
- There is debate within Labour about whether rent freezes or building more homes will best reduce housing costs.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.