Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what steps he plans to take to reduce domestic rent prices in London.

The Government believes that the key to improving affordability in domestic rents is to increase the supply of homes. That is why the Government has taken measures to attract billions of pounds of investment to build homes specifically for private rent. This includes a £3.5 billion debt guarantee scheme to support the delivery of new homes purpose built for private rent.

At the Spending Review the Government set out its Five Point Plan for increasing housing supply. This includes plans to deliver 400,000 affordable home starts by 2020/21, including 10,000 Rent to Buy homes; a £2billion fund to provide infrastructure on large housing sites; a £1billion fund to provide loans to SME builders; further reforms to the planning system and the release of public sector land for 160,000 homes.