Residential Leasehold for Flats

Lord Jackson of Peterborough Excerpts

Thursday 30th November 2023 Lords Chamber

[Baroness Penn (Con)]

My Lords, this Bill, and the other reforms that we have made in this space, are comprehensive and complex. We have taken time to look, consult and bring forward the proposals that will have the biggest impact on leaseholders today, while also committing to ongoing reform in the future.

[Lord Jackson of Peterborough (Con)]

My Lords, the Autumn Statement contained a commitment to take forward reforms to residential estate investment trusts. Will my noble friend take forward the support the House has for leveraging significant private sector funding into much-needed residential accommodation via REITs?

[Baroness Penn (Con)]

Yes, the Autumn Statement set out the way forward we are going to take on that issue. We need proper financing to support our ambitions for more homebuilding. Some of that comes through government support, but the private sector is a key partner here and we need to do everything that we can to unlock investment.