Baroness Scott of Bybrook (Con)

My Lords, I thank the noble Baroness, Lady Thornhill, for opening this group and introducing her Amendment 263. This amendment would require the Secretary of State to review and report on the impact of the Act on the private rented sector, including housing supply, rent levels, tenant security and regulatory burdens, within two years of its enactment. We on these Benches do not support reviews for the sake of reviewing. They often consume time and public funds, and require precise delivery in order to answer the questions they set out to answer. However, this legislation poses a significant risk to the market. Noble Lords from across the Committee agree that we must protect tenants and ensure they have access to secure, stable and decent housing at a fair price. We have been clear this Bill does not deliver that. The Government must review the efficacy of the Bill and be held accountable for the decisions they have taken and insisted on. To achieve this, we need a functioning market with an adequate supply of good-quality homes to meet a growing demand. Ensuring the availability of homes is key to making accommodation attainable and keeping rents affordable. Any legislation in this area must strike a difficult but essential balance between these competing interests. Only by getting that balance right can we hope to achieve an efficient and effective rental market. We, along with the many stakeholders we have consulted, believe that a review is necessary and that it should be brought before Parliament. I am keen to know whether the Government are giving the amendments in the names of the noble Baronesses, Lady Grender and Lady Janke, serious consideration. Can the Minister say how the success of this Bill will be judged? What does success look like in the eyes of the Government? In our view, the fear and uncertainty surrounding this Bill is already having a negative impact. On the first day in Committee, I quoted figures from Savills and I will underline them once more. According to Savills, the number of rental properties available on their books in quarter 1 of 2025 is down 42% compared with the same period in 2024. That is 42% fewer homes for families, and 42% less choice for people searching for somewhere to live. If the Government are confident in the positive impact of this Bill, what reason does the Minister have for not reviewing its effects on the housing market, specifically its impact on the availability of rental homes, rent levels, house prices and the demand for social housing? If the Bill were to have a damaging effect on the rental market, surely Ministers would want to know. Getting this balance right is paramount. It is the difference between a functioning, accessible rental market and one that is suffocated. It is the difference between tenants being able to find a secure and affordable home, and landlords leaving the sector altogether. I look forward to the Minister’s response.