MILLIONS of social housing tenants could be spared £300 a year under new government proposals to introduce a rent cap.
Ministers are considering sealing the cap in time for April next year, with the options of three, five and seven per cent all being looked at.
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A hard limit on rent would prevent councils and housing associations from making cruel price hikes.
The government chooses how much social housing rent can go up by each year.
Under current rules, the potential increase in 2023 could hit a staggering 11 per cent.
The introduction of a rent cap could save four million families £300 a year.
Ministers say they would keep the limit in place until at least March 2024, with options for 2024 now also being looked at.
The cap proposal comes as the cost of living crisis continues to bring misery to millions of hard-up Brits.
Energy bills are now projected to hit an eye watering £6,616 in April.
Meanwhile, inflation has spiralled to 10 per cent, causing food prices to soar.
Social housing tenants are being encouraged to share their views on the rent cap idea with the government, who have launched a consultation.
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Following the consultation process a final decision will be made later this year.
Housing Secretary Greg Clark said: “We must protect the most vulnerable households in these exceptional circumstances during the year ahead. Putting a cap on rent increases for social tenants offers security and stability to families across England.
“We know many people are worried about the months ahead. We want to hear from landlords and social tenants on how we can make this work and support the people that need it most.”
