The figure is an estimated total, based on the £9.3 billion paid out in housing benefit, £1.69 billion given as tax relief for “wear-and-tear”, £6.63 billion of mortgage interest payments offset against tax and £9.06 billion of annual average capital gains.
Generation Rent are calling for a landlord levy of 22% on any rental income, which they believe would raise a figure in the region of £9.3 billion that they propose to be used to build 90,000 new council houses.
Alex Hilton of Generation Rent said:
“While renters have borne the brunt of austerity, landlords have enjoyed their own little economy the size of Morocco’s supported by subsidies from the UK taxpayer that could be better used fixing the housing crisis.”
Take advantage of our discounted landlord insurance rates
Generation Rent are calling for a landlord levy of 22% on any rental income, which they believe would raise a figure in the region of £9.3 billion that they propose to be used to build 90,000 new council houses.
Alex Hilton of Generation Rent said:
“While renters have borne the brunt of austerity, landlords have enjoyed their own little economy the size of Morocco’s supported by subsidies from the UK taxpayer that could be better used fixing the housing crisis.”
Take advantage of our discounted landlord insurance rates
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