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Campaign group, Generation Rent claims private landlords are benefiting from government subsidies to the tune of £26bn a year. This figure is made up of housing benefit paid on behalf of tenants and tax breaks on property ‘wear and tear’, mortgage interest payments, and capital gains tax.
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Money to Fund New Council Homes
The group is calling for the government to apply an additional landlord levy of 22 per cent on rental income, which it says could be used to help pay for the housing benefit bill and new council homes.
“It’s time landlords started paying more of their fair share so first-time buyers could have a level playing field and the government could have the resources to build more social housing,” said Alex Hilton from Generation Rent.
A National House Building Programme
Labour MP Frank Field is calling for a review of what the government spends on housing. He is in agreement that less money should be spent on housing benefit and more on the construction of social homes.
“A national house building programme is not only desirable, it is essential. The bill footed by the taxpayer to top up the rent money is out of control, because landlords know they can charge what they like, while renters are left to wait patiently for years for a new home.”
