Local Government Finance

Lord Campbell-Savours Excerpts

Tuesday 21st November 2023 Lords Chamber

[The Lord Speaker (Lord McFall of Alcluith)]

My Lords, Lord Campbell-Savours is participating remotely.

[Lord Campbell-Savours (Lab) [V]]

Why should people pay inflated rents to private landlords who are coining it in conditions of scarcity? Is not the answer to secure selectively land for housing development at agricultural prices, as has happened in parts of Europe, in particular Germany, and to back up that land purchase policy with a mass building programme of housing for both rent and purchase, but under a new form of title which restricts speculative gains and yet protects the value of freehold title? Speculative markets in land are denying millions a home.

[Baroness Penn (Con)]

My Lords, I believe that part of the solution to this problem is an increase in supply and quality in the private rented sector, which our Renters (Reform) Bill will help to deliver, and also in the affordable housing and social housing sectors. That is why this Government have put so much money into the affordable housing programme, to increase the supply of that housing and relieve the pressure that we see on temporary accommodation.