But even before the formal announcement has been made it is apparent that some are vehemently against. The initial voices of outrage were those one might have anticipated. The incorrigible Mr Shapps and the Adam Smith Institute, ably supported by that other cheerleader for deregulated markets City AM were quick off the mark in condemning Labour’s proposals for ‘rent control’ in lurid terms. It is little short of socialism, red in tooth and claw. Assar Lindbeck’s famous quote about rent control being the best way to destroy a city apart from bombing was dusted off and given another airing.
Those in the red corner were supportive of the initiative as a follow-on to Labour’s energy price freeze. Mark Ferguson at Labour List welcomed the move and argued that Miliband needs to stick to his plan in the face of the inevitable criticism – this is a bold move and should be proclaimed as such.
Ferguson finishes his post by noting that a quarter of Conservative MPs are private landlords. Which is no doubt a useful piece of information when interpreting the howls of outrage which will inevitably follow today’s formal policy announcement.
But are rent regulation and longer tenancies a good idea? [Read more...]