Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect on small investors of planned restrictions on the relief on finance costs for landlords of residential property.

The government does not expect the restriction to tax relief for finance costs to have a significant impact on small investors, with only 1 in 5 landlords affected. Overall, the OBR believe the impact on the housing market will be small and, taking account of the other measures in the Summer Budget, have not adjusted their forecast for house prices. The Productivity Plan published alongside the Summer Budget will also increase the number of opportunities available to small investors. It includes a number of measures to make the planning system quicker, cheaper and more responsive to local needs.