Finance Bill

Baroness Andrews Excerpts

2nd reading & Committee negatived & 3rd reading & 2nd reading (Hansard) & 2nd reading (Hansard): House of Lords & 3rd reading (Hansard) & 3rd reading (Hansard): House of Lords & Committee negatived (Hansard) & Committee negatived (Hansard): House of Lords
Friday 17th July 2020 Lords Chamber

[Baroness Andrews (Lab) [V]]

First, on the stamp duty issue and the problems facing young people, welcome though they are, the stamp duty proposals may have very perverse consequences for the most vulnerable people in the rented sector. Yesterday, I received the following message:

“Three days ago our landlord contacted us to say that he intends to put our flat on the market as a direct result of the proposed tax relief. The effect of this is increased anxiety, uncertainty and instability in a time when Covid-19 has heightened these feelings. While I understand the intention of the Bill is to stimulate the market and economy, the effect for those who rent is to precipitate an unplanned and unwanted search for a new home, affecting mental health, and at a time of financial uncertainty for many.”


This is one personal instance to illustrate what my noble friend Lord Livermore said so eloquently. This is the voice of Generation Rent, for whom the prospects of owning their own home have disappeared over the horizon, who face a lifetime in rented accommodation and who could now well lose their jobs in the next six months.

The Government are totally silent on the private rented sector, so my first question to the Minister is: how does he think people such as my correspondent should be protected? How would he answer that email?

Secondly, will he ask his right honourable friend the Chancellor to take a good look at the 12 recommendations in yesterday’s report from the Affordable Housing Commission, which argues strongly that the way to lift society, as well as parts of the economy, is by investing in a massive building programme for social and affordable housing? Housebuilding is already badly hit by Covid, especially small firms. We need a bold and real new deal for housing which is not about deconstructing the planning system or turning offices into the slum dwellings of tomorrow.

Thirdly, will the Minister ask the Chancellor to focus more resources on a long-term fund for young people and their future? The kick-starter fund is a good place to start, but there is no indication that it will meet the scale of need of those young people, who now face such a different future. They have already been landed with Brexit: 400,000 young people were out of work before the crisis; a further 800,000 are set to enter the labour market. They will be first in line if we have 12% unemployment or more by Christmas. Moreover, the Treasury’s independent forecaster has said that as much as a fifth of the 9 million people whose jobs were furloughed on the scheme will be made redundant.

I very much look forward to hearing how the Minister will answer the questions raised by my noble friend Lord Livermore. My questions to the Minister are, finally: will the money promised in kick-start create new jobs incentives, where new and green jobs can also be created—careers in tourism and environmental technologies, for example? Will it support people to remain in employment once their apprenticeship finishes? Who will get priority, and how will it improve on such a poor track record of apprenticeships so far?

The Prime Minister, in typically inflated language, says that this is all about a new deal. How I wish it were. How I wish it had the scope, salience and success of FDRs original New Deal.