Baroness Scott of Bybrook (Con)

My Lords, I begin by thanking all noble Lords across the House for their contributions to the scrutiny of the Bill. While we may differ in our views, the commitment shown by Members to improving the private rented sector is evident and deeply valued. I also extend my sincere thanks to the Minister. She has shown courtesy, patience and great resilience throughout this process, defending what we would consider a difficult Bill and, often, an indefensible one. She has defended a policy that we think reflects more political positioning than practical policy-making. Despite the Minister’s efforts, we are left with a piece of legislation that risks doing more harm than good. The facts are stark. According to Savills, the number of rental properties on its books dropped by 42% in quarter 1 this year, compared with the same period in 2024. That means 42% fewer homes available: fewer homes for families, less mobility for renters, less choice, and more pressure on rents. This is not theoretical; it is happening now, and the Bill is accelerating that trend. Its uncertainty around fixed-term tenancies, poorly defined possession grounds, and reliance on stretched tribunals are driving responsible landlords away from the sector. When providers exit, supply shrinks—and when supply shrinks, rents rise. We understand why tenants seek greater security but let us be honest: much of what the Bill tries to fix are symptoms of a very deep problem. There are simply not enough rented properties in this country, and there will be fewer. Instead of addressing that shortage, this legislation papers over the cracks, with layers of regulation that risk doing more harm than good. It treats the pressures of scarcity—rising rents, insecurity and limited choice—as issues that can be regulated away. Regulation without supply is a dead end. What we need is a balanced approach. Yes, let us protect tenants, but let us also create the conditions for responsible landlords to stay in the market, invest and offer decent homes. Without that balance, the consequences are predictable, and they are already playing out. The real target should be the rogue landlords: those who exploit vulnerable tenants and undermine confidence in the sector. The Bill misses that mark. Instead of cracking down on the worst offenders, it heaps new burdens on the majority who act responsibly. What the sector truly needs is a rogue landlord Bill that is targeted, proportionate and enforceable, one that protects tenants without pushing decent landlords out of the market. Instead, we have a Bill that gets the balance wrong. It risks shrinking supply, increasing costs and adding complexity just when we most need clarity and confidence. The Bill does not strike the right balance between protection and provision. It fails tenants, landlords and the very market that it claims to reform. On this side of the House we will continue to monitor the market and challenge the Government to act on any negative outcomes. Before I sit down, I congratulate Sam and Molly in my office—it is her first Bill in this House. I thank them sincerely for the fantastic support they have given me and my noble friend Lord Jamieson throughout the passage of the Bill.