Member

If the House will allow me, I will give a brief example to illustrate this point. In the year to May 2025, rents in the city of Bristol fell by 1.1%, while the CPI rate for the UK in the year to May 2025 was 3.4% and the percentage increase in median national earnings calculated over the three-year period 2022 to 2024 in the UK was 6.7%. This means that a CPI or earnings-linked increase could inflate rents beyond local market conditions, increasing affordability pressures for tenants and not steadying them. This example highlights the risk of applying strict, one-size-fits-all rent controls. Regional disparities in both housing and labour markets demand a more flexible and locally responsive approach. That is why the Bill allows landlords to adjust rents annually in line with current market conditions. In doing so, it delivers a strengthening of rent regulation in the broader context of the system as a whole, including security of tenure, better enforcement and quality standards.