BofE is holding fast on interest rates despite tremendous pressure to put them up to protect the pound. Many predict they will give in and raise them.
The thing that really worries me is that most people don’t understand how any of this works and are still worried about fuel costs. They have no idea that a further (minimum) 1.5% hike is imminent, and those worst affected (renters/trackers) won’t know that they’re the ones who’ll get wiped out by it.
A freeze on rent increases (like the fuel cap) might be needed, but good luck getting this government to agree to that.
Edit: as I think about it a rent freeze would be great for shaking the exploitation out of the housing market too.
For anyone not aware of this - housing is not a free market, especially in the UK (your tenants are universally forced against their will to rent from you due to nimbyism).
Nobody is being forced against their will to rent a property they don’t want.
Tenants already get plenty of protections that are only due to be strengthened.
Should choice really be limited to owning an expensive asset or accepting whatever the government is capable of providing (council houses aren’t looked upon fondly). What you refer to as exploitation I’d see as freedom of choice.
The people who actively work the system to prevent new construction are the same people collecting rents from tenants left without options because of bans on construction.
There are plenty of options for people looking to get on to the housing ladder including government backed schemes that require deposits as low as 5%. If someone is incapable of saving a 5% deposit, are they fiscally responsible enough to own a home?
Raising the base rate is a tool to reduce inflation. They’re two sides of the same coin.
To be honest I'm not super worried as I can see the inflationary pressure is mostly coming from the knock on effects of the Ukraine which will undoubtably end at some point. Also we're coming off the back of Brexit and printing a load of money for Covid.