A new report warns that the British Labour government's ambitious climate policies, which require landlords to upgrade rental properties to meet stricter energy efficiency standards, could cost renters up to £36 billion. While Energy Security and Net Zero minister Ed Miliband argues the policy will lift families out of fuel poverty, critics claim it will disproportionately burden renters already facing housing shortages, inflation, and high taxes.
The radical climate plans by the Labour Party government in Britain could cost landlords, taxpayers, and housing associations up to £36 billion to renovate their properties to comply with impending energy efficiency standards, the cost of which will likely being passed onto renters, a report has found.
Opponents of the eco-diktats, such as Shadow Housing Minister David Simmonds noted that similar measures in Scotland merely served to reduce supply of rental properties and therefore increase the cost of renting. “These new rules don’t apply to homeowners so they are understandably questioning why such a burden is being placed on them when the majority are already providing a professional tenant experience and valuable source of private housing.”
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Labour's Climate Plans Could Cost Landlords and Renters BillionsA new report warns that the Labour Party government's radical climate plans to improve energy efficiency in rental properties could cost landlords, taxpayers, and housing associations up to £36 billion. Critics argue that these costs will likely be passed onto renters who are already facing challenges with housing shortages, inflation, and high taxes.
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