The government is planning to introduce a rent cap for tenants in the social rented sector to help support some of the UK’s most vulnerable renters as the cost of living crisis bites this winter.
A consultation has been launched by housing secretary Greg Clark around how best to support the four million households in the social rented sector, as investment bank Goldman Sachs said inflation could exceed 20% by the start of next year.
The government is considering capping rent rises for the coming financial year at 3%, 5% or 7% for tenants in the social sector to insulate them from the rising cost of living.
“We must protect the most vulnerable households in these exceptional circumstances during the year ahead. Putting a cap on rent increases for social tenants offers security and stability to families across England,” said Clark.
