Neoliberalism is a con, a fraud, and Britain’s housing crisis vividly illustrates why. The populist promise of neoliberalism has always been about extending choice for the individual. In a properly functioning society – which sadly we do not have – young Britons would be able to choose between a comfortable council house on a secure tenancy, a privately rented home with an affordable rent and security, and home ownership. All of these options have been trashed.
Hmm, as a fully paid up neoliberal I know what I propose to deal with that.
The Tories built this system of endemic insecurity,
Well, no, they didn’t.
The post-war Labour government committed to building council housing to a higher standard than private housing: that pledge must be revived. Local authority-backed mortgages should be promoted on a mass scale; and both stamp duty and an unjust council tax system should both be abolished in favour of a progressive land value tax.
In the private sector, Labour is right to commit to an inflation cap on rent rises and three-year tenancies: but local authorities should be granted the power to impose rent controls, too. Homes which are left empty should face compulsory purchase orders, and then be transformed into council housing. Companies and trusts that aren’t based in Britain should be banned from buying up homes, too.
That’s not what I would do, no.
What I would do is blow up the Town and Country Planning Act 1947 and successors. You know, the Labour law which causes the problem in the first place?