Burnham said: “It’s just not the case that we are bringing forward plans on that scale at this moment in time. What we’re trying to do though is to make taxation fairer.”
Housing Secretary Angela Rayner also confirmed that rent controls will not be introduced in England, closing off a second area of speculation that had unsettled the property and lettings industry.
An ‘uncertainty tax’ on the market
In the days before the announcements, industry figures had warned that the prospect of intervention was doing damage of its own.
Kate Davies, executive director at the Intermediary Mortgage Lenders Association (IMLA), said speculation around future housing policy was itself adding to landlord uncertainty – a dynamic The Telegraph described as an “uncertainty tax”, on the basis that a lack of policy clarity can dampen landlord confidence and market activity even before any actual measures are introduced.
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She added: “We were pleased to see the Prime Minister move quickly to rule out reported proposals to replace council tax and stamp duty with an annual charge on property values… The episode is also a reminder of how quickly speculation about property taxation can unsettle the market. That is not to say the current system is beyond improvement: IMLA has long argued that stamp duty deserves a serious review, as it slows the market and deters older homeowners from downsizing.”
Tony Hall, head of business development at Saffron for Intermediaries, said the backdrop was being misread.
“The narrative that landlords are simply giving up doesn’t reflect what we’re seeing,” he said, arguing that landlords were adapting rather than abandoning their portfolios. He described them as “not speculators”, but “small businesspeople finding ways to keep providing the rental homes this country badly needs, and in many cases adding to the housing stock in the process.”
Davies made a similar appeal for perspective, urging the government to move away from what she called a “greedy landlord” narrative and calling for a more balanced debate about the sector’s role.
IMLA welcomes rent control decision – but wants it made permanent
Speaking after Rayner’s confirmation, Davies welcomed the decision but pressed the government to go further and rule out rent controls for good.
She said: “We were reassured to hear the Housing Secretary rule out rent controls this week, citing the experience in Scotland, where controls ultimately pushed rents up faster than in England or Wales.
“She is quite right: rent controls may look like a neat solution, but history shows they reduce supply and hurt the very tenants they are designed to protect.”
She added: “Given the Prime Minister’s past support for rent freezes as Mayor of Greater Manchester, we would urge him to confirm, early and clearly, that controls are off the table for good. Even speculation about such measures increases perceived risk and can itself drive rents higher.”
Davies said the priority for any future reform should be process rather than pace, noting: “Any overhaul of property taxation would be complex and slow to implement, so what the market needs above all is stability and clarity.
“We would urge the government to consult fully with the industry before taking any such proposals forward.”
