James Wild

James Wild

Conservative — North West Norfolk

Speaking in the House of Commons on 11 December 2024

Debate

Finance Bill

Contribution

My right hon. Friend makes an interesting point, and I bow to his knowledge of the situation in London, which is far greater than mine. Our new clauses are about reviewing the impact of the measure, partly so that if we saw such activity, which would go against the Government’s objectives and weaken the rental market, action could be taken. I hope that the Government will look at the evidence. The Institute for Fiscal Studies has also criticised the change, stating: “It again reduces transactions, increases again the bias in favour of owner occupation, and against renting, and at least part of the consequence will be to reduce the supply of rental housing and so increase rents.” The National Residential Landlords Association has said that the tax changes in the Budget will make it less attractive to provide homes for private rent. It has warned that the measure will exacerbate the shortfall that Members will all be familiar with, and an assessment it commissioned a couple of years ago showed that increasing the rate to 5% could lead to the loss of more than 500,000 private rented homes over 10 years.

More from James Wild

Other recent Hansard contributions by the same speaker.

About Hansard

Hansard is the official verbatim record of proceedings in the UK Parliament. Every word spoken in the Commons and Lords is recorded and published — this page is a single contribution from that record.

For James Wild's full parliamentary record including voting history, expenses and all other contributions, see the James Wild report card.

Partner sites