UK proposes rent cap to protect tenants from cost of living crisis

UK proposes rent cap to protect tenants from cost of living crisis Credit: Ink Drop/Shutterstock.com

The UK is reportedly consulting proposals on a rent cap on social housing amid the cost of living crisis, that would be established during the next financial year with options at 3, 5 and 7 per cent being considered, as reported on Wednesday, August 31.

The UK’s rent cap could reportedly save tenants  £300 per year and provide financial stability for an estimated 4 million families.

A consultation was launched on Wednesday, August 31, that will see tenants and landlords give their opinion on how to best help households with the cost of living.

Housing Secretary Greg Clark stated

“We must protect the most vulnerable households in these exceptional circumstances during the year ahead.”

“Putting a cap on rent increases for social tenants offers security and stability to families across England.”

“We know many people are worried about the months ahead. We want to hear from landlords and social tenants on how we can make this work and support the people that need it most.”

“The rent cap would be temporary and would apply from 1 April 2023 to 31 March 2024. The consultation also seeks views on whether to set a limit for 2024-25.”

“The government understands this will impact social housing landlords and is engaging fully with the sector.”

The news follows a new UK survey of thousands of individuals and small businesses that has shown how well banks are looking after their customers as people face the rising cost of living, as reported on Monday, August 15.


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Written by

Joshua Manning

Originally from the UK, Joshua is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news. Got a news story you want to share? Then get in touch at [email protected]

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