Renters Reform Bill

Lord Best Excerpts

Tuesday 22nd November 2022 Lords Chamber

[Baroness Scott of Bybrook (Con)]

My Lords, if it is in the White Paper, we will see whether it comes through into the Bill and will discuss that. I am sure that if the noble Baroness tables any amendments, we will discuss those in full.

[Lord Best (CB)]

My Lords, I recognise that the Government are not going to introduce a freeze for the private rented sector or the social housing sector, but there is a cap on rents for social housing landlords, housing associations and councils. That cap means that they will not be getting the revenue they expected if they have the full increase in their rents. The main beneficiaries of this are the Government and Treasury, because housing benefit will be reduced—so the autumn Statement tells us—by £650 million. Will this windfall gain of £650 million for the Treasury over the next five years be recycled or reinvested back into social housing, where it is very badly needed, to upgrade the stock and build new homes?

[Baroness Scott of Bybrook (Con)]

The Government are already investing in social housing; we are putting £11.5 billion into building social housing. Some of the money from the windfall, as the noble Lord called it—I would not call it that—will go into that. There is also support going to local authorities to support those in the private rented sector who might have problems this winter and whom we might need to help out.