Finance and Taxation Reform

Lords unite to challenge unfair MIR plans

Sally Walmsley
Written by Sally Walmsley

A group of Tory peers has urged George Osborne to rethink plans to cut Mortgage Interest Relief for landlords.

In an article for The Times Lord Flight, Lord Howard, Lord Lytton and Lord Cathcart say the Government’s assault on private-sector landlords is ‘misguided’ and will make the UK housing crisis worse, forcing up rents and making it harder than ever for tenants to save for a deposit.

The Lords challenge the chancellor’s claim that restricting Mortgage Interest Relief for landlords to the basic rate of income tax, will ‘level the playing field’ between landlords and homeowners.

They also quote the findings of an RLA survey of more than 1,200 landlords, which revealed that of those paying the basic rate of income tax, more than 60 per cent said that the changes would push them into a higher rate of tax despite their income not increasing.

For Times subscribers the article can be accessed by clicking here.

About the author

Sally Walmsley

Sally Walmsley

Sally Walmsley is the Communications Manager for the RLA and award-winning Editor of RPI magazine. With 16 years’ experience writing for regional and national newspapers and magazines she is responsible for producing articles for our Campaigns and News Centre, the weekly E-News newsletter and editorial content for our media partners.

She issues press releases promoting the work of the RLA and its policies and campaigns to the regional and national media and works alongside the marketing team on the association’s social media channels to build support for the RLA and its work.

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