Taxation: Rental Income

Baroness Farrington of Ribbleton Excerpts

Tuesday 3rd December 2013 Lords Chamber

[Lord Newby]

My Lords, there is a very disparate housing market in London. At the bottom end of the market, the vast bulk of houses are purchased domestically. At the very top end, the vast bulk of houses are purchased by foreign buyers, particularly from Russia, eastern Europe and the Far East. One key thing that we are very keen to try to achieve is a greater degree of housebuilding in London and elsewhere. Only by building a lot more houses will it be possible to satisfy the demands of a growing population.

[Baroness Farrington of Ribbleton (Lab)]

My Lords, why has the Minister not undertaken to investigate the value of a register? Surely, it would help the Government, HMRC and taxpayers were a register to be established.

[Lord Newby]

I thought that I had said that I would take that matter up with colleagues in the DCLG.