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Labour party to vote on nationalising significant parts of rental market

Conference delegates to consider a motion that will introduce the compulsory purchase of empty homes and blocks owned by institutional investors and management firms.

Nigel Lewis

labour party

The Labour Party is to debate several radical housing policies at its party conference this week that would bring seismic change to the property sector if Corbyn were to gain power.

At 3pm tomorrow delegates at the party’s shindig in Brighton are to debate and then vote on adopting the housing measures.

The most controversial, which has been proposed by local activists within the party, include privately-rented housing stock owned by housing associations, institutional landlords and management companies being brought into government ownership.

Also, the motion calls for local authorities to be enabled to purchase empty homes compulsorily if they lie unoccupied for more than six months.

It also calls for the capping of private rents across the UK at a third of local incomes and for ‘the worst’ privately rented properties, and unused building plots, to be compulsorily purchased.

These proposals have the backing of Momentum, leader Jeremy Corbyn’s support group within the Labour party, as well as Labour’s youth wing and also the shadow housing minister John Healey.

The motion, which has been made public prior to the debate on Tuesday, also calls the party to endorse the requisition of “unoccupied tower blocks in London”.

In July the party also revealed that it would seek to introduce a ‘right to buy’ scheme for private renters.

September 23, 2019

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