Helping Generation Rent - a new pledge from Labour

The up-coming elections see Labour setting out plans to deal with the cost-of-living crisis. The message is simple: Hardworking Britain will always be better off with Labour.

David Cameron can’t solve the crisis because he stands up for a privileged few not working people.  The Liberal Democrats are part of the problem not part of the solution.

 

Take for example the spiralling costs of private rented accommodation which are draining welfare budgets, increasing homelessness and preventing an entire generation from saving enough money to get themselves on the housing ladder.

 

Generation rent is a generation that has been ignored for too long. Ed Miliband has today set about putting that right, with Labour’s fair deal for rented housing in Britain.  Labour will bring back long-term tenancies and stable rents so that people can settle down, know where their kids will go to school, know their home will still be there for them tomorrow.

 

That's the pledge.  Here are the facts:

• The costs of renting are part of the cost-of-living crisis: Renters are now paying on average £1020 a year more in rent than in 2010 and letting agents charge average fees of £350 every time someone moves house.
• The private rented sector has changed: 9 million people now rent privately including over 1.3 million families with children and almost 50% of private rented households are over the age of 35.
• The sector doesn’t work for these families: Under the current legislation renters are locked into short term tenancies with only 6 months of security and half of all families renting say that they are worried about unaffordable rent increases.
• Labour will act: We will introduce legislation to make 3 year tenancies with stable rents the norm in the market and to ban letting agents’ fees for tenants, saving families £350.