Layla Moran MP has called on the Government to provide urgent support to renters, equivalent to the support given to homeowners, who have just been granted a further three-month mortgage holiday.
Layla Moran MP has warned that urgent action is needed to support hard-pressed renters who are facing a “double whammy” of rising rents and falling incomes. Figures published on Wednesday by the ONS revealed that the average rents paid by tenants in the UK increased by 1.5% in the 12 months to April 2020, up from 1.4% in March 2020.
Some of the regions that face being hardest hit by the economic impact of the coronavirus pandemic are also seeing the sharpest increase in rents. The South West saw a 2.6% annual increase in rents, followed by the East Midlands at 2.4%. These regions are more reliant on sectors like tourism and manufacturing that have been most impacted by the pandemic.
Young people who are more likely to rent are also being hardest hit by the economic impact of lockdown. Research by the Resolution Foundation think-tank has found one in three 18-24 year olds have seen their pay cut since the crisis began, the highest of any age group.
Layla is calling on the Government to introduce an urgent package of measures to protect renters, including extending the current ban on evictions and increasing grants through the Local Housing Allowance.
Lib Dem Leadership Candidate, Layla Moran, said: “Coronavirus doesn’t discriminate between homeowners and renters, and neither should the Government. Hard-pressed renters are facing a double whammy of rising rents and falling incomes. Some of the regions with the highest increases in rent are also those that risk being hardest hit by the economic impact of this crisis.
“These stark figures should serve as a wake-up call to the Government. If ministers are serious about the levelling up agenda, they need to act now to ensure vulnerable renters and young people across the country are protected. Renters need similar support to homeowners, including increased grants, to ensure they can pay their rent and to avoid a sharp rise in evictions when the lockdown is lifted.”