Cutting down housing targets to cost renters £200 a year

Rishi Sunak

The Opposition argued the PM’s approach to planning will lead to the lowest housebuilding rate since the WWII

UK PM Rishi Sunak’s decision to cut down housing targets could cost tenants an additional £200 annually by 2030, Labour has argued as it raises its pitch as “the party of home ownership”.

The Opposition pledged to never treat renters “like second-class citizens”, as it argued the PM’s perspective on planning will drive to the least housebuilding rate since the WWII.

In 2022, the PM gave in to pressure from Tory to make the target of building 300k houses annually in England advisory instead of compulsory.

Changes to the national planning policy framework will cost an additional £208 annually by 2030 in case present trends carry on, as per the analysis of industry data by Labour.

Labour has promised to rollback the changes in Government and bring in a “renters’ charter” which will comprise of a national register of landlords, extended notice periods, prohibit no-fault evictions, and the right to make changes to home.

It said the figures came from evaluation of data from planning and development consultancy Lichfields.

According to data for March, it is the largest decline in housebuilding activity since the first Covid lockdown, Labour stated, with housebuilding forecasted to decline to the lowest rate since WW II.

Shadow housing secretary Lisa Nandy stated: Rishi Sunak’s hasty decision to give in to his own MPs does not merely imply he has dumped an entire generation of young people’s dreams of homeownership – it is also affecting tenants currently who are already facing a cost-of-living crisis.

We will also build more houses to both rent and purchase, including social and cheap houses, and we will reinstate social housing to the second biggest form of occupancy.

It comes after Labour leader Sir Keir Starmer announced several steps targeted at home ownership for more people.

These include the introduction of a target of 70 per cent home ownership and giving power back to communities by permitting local authorities to take back control, Starmer stated.

Labour has blamed the Government of ditching FTBs, indicating just a third of children born in England in 2023 will own a house when they reach their 50s. Labour is proudly the party of homeownership, Nandy stated.

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