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Tuesday, September 23, 2014

Labour reconfirms rent cap promise

Like a dog with a bone the 2 Eds seem determined to press ahead with their crazy promise of rent caps or what the Labour luvvies call euphemistically controls over "excessive rental increases". This week at the Labour Party Conference in Manchester the Leader seems certain to put his stamp of approval on it and for it to be official party policy. This concept of rent cap/controls that could only be contrived by a load of out of touch politicians clearly positioning themselves to grab votes from 'generation rent'. Recent research shows that rent controls don't work other than to distort the market, create a lot of work for bureaucrats and legislators and generally confuse both landlords & tenants.  Still what do they care about the fall out, they are just there for somebodies vote.

History tells us a lot about rent control
I'm a great fan of history.  It tells us a lot.  A cursory look at the history books shows us rent controls in what ever shape or form don't work.  Simply by calling them something different like "New rent controls or rent caps' will not fix the fundamental flaws.  Perhaps Labour should take a look back before making promises to the electorate that don't add up.
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