Thinktank calls for ‘double lock’ England private rent cap to ease living costs

A leading thinktank has urged the government to cap private rents in England using a 'double lock' tied to inflation or wages, as new figures show 2.4 million people face unaffordable housing costs [1]. The Institute for Public Policy Research (IPPR) proposes linking annual rent increases to the lower of the 12-month average of consumer price inflation or wage growth [1]. The plan aims to provide immediate relief, as building new housing 'takes a long time to feed through into costs,' said Maya Singer Hobbs, the report's author [1]. The thinktank calculates that 2.4 million people in the UK currently spend over 30% of their gross income on rent, a number projected to rise by 340,000 by 2030 [1]. Its proposal includes exemptions for new builds for ten years and for landlords who make significant property improvements [1]. To prevent landlords from switching to short-term lets, the IPPR recommends a new licensing system and a cap on short-term rental nights [1]. The plan also calls for increasing housing benefit to cover the cheapest 30% of rents, at an estimated additional cost of £600m per year [1]. IPPR staff have recently presented their ideas to officials in the Treasury, Downing Street, and the Ministry of Housing, Communities and Local Government [1]. The report emerges as Chancellor Rachel Reeves prepares a cost-of-living package, having previously considered but ruled out a one-year rent freeze [1].