The National Residential Landlords Association (NRLA) has warned the chancellor to refrain from targeting the PRS in her upcoming budget speech.
Ahead of the speech on 26th November, many are expecting chancellor Rachel Reeves to raise taxes with some anticipating rents to be targeted within this.
The NRLA is calling on the government to recognise how much the NRLA drives economic growth in the UK.
The association has pointed to a recent report it produced alongside former Treasury official and head of housing at Policy Exchange Chris Walker.
This stated that: “Economically, the PRS supports the efficient use of the housing stock for workers in proximity to places of work and, in so doing, could be supporting opportunity, career progression and productivity.
“PRS households on average have more workers in them, and the utilisation of housing space in proximity to workplaces for the labour market is highly efficient.”
Reiterating these findings, NRLA CEO Ben Beadle said landlords needed further support from the government and that the upcoming budget needed to form part of that.
“The chancellor must use this critical budget to back responsible landlords who provide good homes and support local economies,” said Ben.
“That means using the tax system to encourage long-term investment, as opposed to prioritising short-term revenue grabs.”
