Today Ed Miliband will pledge a fairer deal for renters as home ownership remains at its lowest level for 30 years
Today Ed Miliband and Emma Reynolds will set out what action a Labour government will take to help ‘Generation Rent’. There are now nine million people renting homes, many of whom are young people or families just starting out.
The housing shortage is making it impossible for young people to afford homes – the average house price is eight times higher than the average wage. During this government we have also seen the lowest levels of housebuilding in peacetime since the 1920s. House of Commons analysis shows that on current trends, the average deposit of a home in the UK will be £72,000 by 2020 – it is little wonder that home ownership is at its lowest level for thirty years.
Today the Labour leader and the shadow minister for Housing will reveal how ‘Generation Rent’ will be better off by an average of £624 each under a Labour government. They will pledge to ban rip-off letting agent fees, legislate for three year tenancies to give renters security and peace of mind, and end excessive rent rises by putting a cap on rent increases during the new three-year tenancies.
Ed Miliband is expected to say:
“The amount needed for a deposit on a home has risen beyond the reach of millions of young people and families starting out.
“As well as building more houses and helping people get on the property ladder, a Labour government will take action immediately to make life better for all those renting their home.
“Moving house is an expensive time anyway and there is no reason why Generation Rent should be ripped by rules which don’t apply to property owners.
“The first Queen’s Speech of the next Labour government will set out legislation to ban letting agent fees charged to tenants. It will save Generation Rent £2.5 billion over the next parliament. And it will save the typical renter £624.”
Meanwhile Ms Reynolds will visit Hampstead & Kilburn, calling on young voters to make their voices heard in the election. She will be kicking off a national campaign to visit seats with high levels of private renters to highlight Labour’s policies.
Ms Reynolds is expected to say today:
“Renters have to work two days a week – the equivalent of working every day until the 28th May this year – before they pay the rent. But in return they get no stability, poor standards and they have to pay hundreds of pounds in rip-off letting agent fees.
“We are also committed to tackling the root causes of this crisis by getting at least 200,000 homes built a year by 2020.
“From now until the General Election I will be in key seats talking to voters about our plans for housing. And as part of voter registration week, I will be encouraging private renters, who are one of the most under-registered groups, to get registered so that their voice can be heard in May.
“Generation rent deserves a fairer deal. Only a Labour government is set on delivering it.”
42 Responses to “Generation Rent will be £2.5 billion better off under a Labour government”
Guest
You are demanding the 99% be blocked from crossing borders, and demanding trade be smashed, so wages can be lowered and living standards destroyed for the British you hate so much, as you blame the Other for everything.
And oh, you’re going to smash my glasses out of spite, forcing me to spend out more money on your business, I see. Violence and profiteering fits your MO perfectly.
Guest
Your ranting is almost unreadable.
And I see, you used illegal threats to evict people rather than following the proper procedure. Stopping there.
Nicholas Poulcherios
Ranting or no ranting never conned any one. Tenants had an official Rent book this was given with sound advice written at the back; The rents on all occasions were recommended by the officer from the council,or the College or Estate Management Agencies. They were absolutely free to complain to any of those bodies but did not…on the contrary the one with the drugs worried in case he took him to the police! Not being a cocker spaniel sniffing around,he could have been wrong…But the Tenant’s chain reaction of guilt said it all.. Had the police found him in the premises, they would strip all the house looking for more drugs. Disaster! He was not thrown out in the streets he had a home 20 minutes by car where his parents lived. He thought picking on a foreigner in the area was easy pray. In this other case it was glorified fraud,pocketing the rent,that did not belong to him. And canoodling with young girl of foreign European origin.The RC Father did care for his parishioners in the mid 1980s far better than any Gov. Official under Mrs.T.. Sorry to bore you with my ranting, but my writing is limited as I hardly know how to properly use the computer. I took advantage of Gordon’s Gov. Computer Course helping Senior citizens but learned the keyboards and basics. Difficult to space paragraphs and many other details. Its irritating for me also! Practice on my writing course and help from my neighbor. It is easy to judge others but try putting yourself in the Landlords place and the house where you also shared with these kind of people. End of story. I do plan to write a Book on a Lanlord’s case book and toils under the Tories. and part two under Labour.; Also two books one on Mental Nurse’s Case book; Life and Travels NHS Nursing in UK. I am busy Have a good afternoon. It’s very sunny today but it snowed yesterday!.
PeterPuffin
You have at least marginally corrected your manners problem but you still fail to understand probably willfully that the debt is largely private , that the public sector element increased due to the failure of privatised banks that went “bust” almost within a decade of their demutualisation. Do you remember that Michale Foot proposed a sovereign wealth fund for North Sea oil……..Thatcher vetoed that, all our assets have gone offshore, or are owned by state owned French or German companies; she was effectively a traitor.
LB
Wrong. Barkingly wrong.
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public sector element increased due to the failure of privatised banks that went “bust”
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There was a bank bailout. The largest element were the liquidity loans. That was called the special liquidity scheme. 1,500 bn pounds. The problem for your thesis is that its all been repaid.
http://www.bankofengland.co.uk/markets/Pages/sls/default.aspx
All drawings under the Scheme were repaid before the Scheme closed.
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So the bank bailout money has all been repaid, so there is no debt as a consequence.
So how about the real treachery? The problem is that its the socialist welfare state.
Borrowing, 1,415 bn pounds. see http://www.dmo.gov.uk
Pensions. 7.3 trillion. http://www.ons.gov.uk/ons/dcp171766_263808.pdf
PFI About 0.4 trllion
Nuclear clean up. 0.15 tillion
Pensions guarantees. Such as local government, royal mail, bt, another 0.5 trillion.
So we’re talking a state debt of 9 trillion unless you are going to screw people and not pay the pensions.
So that’s 9 trillion quid. The wealth of the UK is only 7.3 trillion
The state owns no assets that can generate the money to pay. The rate of increase alone is 736 bn pounds a year. That exceeds spending.
What the size of private sector debts and what’s the value of the assets held against the debts?
For all banks, their assets exceeds their debts. Unlike the state
For mortgage holders, its just small areas in the NE that have negative equity.
Tax avoidance is legal. Are you going to screw all pensions, all ISAs? probably. My guess is that you’re a public sector worker, and you realize that your pensions are risk. Of course it is. They’ve spent all your contributions.