As the affordable housing shortage now becomes critical across the country, those living and working in London have felt the hardest burden on their wages and living standards. As part of the Labour leadership campaign, Jeremy Corbyn pledges to introduce rent controls and a five year plan for one million new homes in five years. With a view to a speedier change ahead of an undetermined general election, a public petition is currently gaining support which asks London Mayor Sadiq Khan and PM Theresa May to take action. Calling on a cap which would mean that no one pays more than £200 per week in rent, a 38 Degrees petition reports that the city with the most employment opportunities in the UK is forcing workers out of London to live. This increases pressures on work/ life balance and the poor public transport infrastructure. A significant effect would also be on the buy-to-let market, as greedy private landlords would see their profits slashed and without that capitalist incentive, the over-inflated first-time buyers market could offer more opportunities to workers. Private landlords are also hiking up the housing benefits bill, with council housing stock at critical numbers, and the burden on that public spending could see funds redirected into health, education or other public services.
Sign the petition HERE, where you can also email Sadiq Khan directly about this issue.
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