Housing White Paper

Baroness Altmann Excerpts

Tuesday 7th February 2017 Lords Chamber

[Lord Bourne of Aberystwyth]

My Lords, the noble Lord is right that the issue of rent increases on local authorities is not covered by the White Paper. On the position of landlords who act unreasonably, he will be aware that we are bringing in, under previous legislation, the register of rogue landlords, which is due to happen later this year—perhaps he was referring to that point. That is mentioned in the White Paper and it is already scheduled to happen. However, in addition we are, as I have indicated, looking at where landlords are acting unreasonably and holding a consultation on that issue within the White Paper.

[Baroness Altmann (Con)]

My Lords, I warmly welcome the White Paper and congratulate the Government on their decision to require local authorities to prioritise and make plans for accommodation for older people. The fastest growing group in our population is the older generation. I also welcome the building of the right homes in the right places and the encouragement for small and medium-sized firms. Too often, the very large builders make outsize profits at the expense of smaller ones, which often have the specialist knowledge to build homes suitable for older people. I also welcome the emphasis on institutional investors. Many insurance companies are now engaged in build-to-rent programmes. In the current low interest rate environment, that is a very fruitful avenue for them. Will my noble friend consider encouragement for local authority pension funds also to invest in housing in the build-to-rent sector?

[Lord Bourne of Aberystwyth]

I thank my noble friend very much indeed for her welcome of the part of the White Paper that relates to older people and disabled people. It was prompted by a Conservative Back-Bencher in the Commons but is supported, I think, across the other place and across this House as something that is very valuable. I have indicated to my noble friend my hope that as we take this forward she and others who have shown an interest—the noble Baronesses, Lady Andrews and Lady Greengross, who have great experience of this through institutions that they represent—will help us craft some thoughts on this. As was indicated in Committee by the noble Baroness, Lady Andrews, this is the first time there has been a provision like this in legislation. It is valuable. It helps not only those who are elderly or disabled but has the bonus that it will free up housing, although that is not the prime intention.

I will respond to a couple of the other points that my noble friend made. There are certainly provisions in the White Paper by which, again, we are seeking to encourage institutional investment in the housing programme. I believe that that will be fruitful and I echo the point she made about pension funds. We will make sure the message goes out that pension funds should, I hope, be included in the process of trying to encourage outside investment away from the public sector towards the private sector and the third sector.