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UK Think Tank Proposes Revolutionary Housing Reform to Boost Homeownership and Tackle Affordability Crisis

SMF Proposes Council Tax Rebates for Renters

Addressing Homeownership Challenges in the UK

According to Landlord TODAY a big UK think tank called the Social Market Foundation (SMF) wants to change how housing reform works to help more people afford homes. They suggest giving money back on council tax to renters so they can save up to buy a house. This idea comes because in the UK fewer people own homes compared to other English-speaking countries. The main problem is that it’s hard to save enough money for a house deposit.

READ ALSO: Owe council tax and worried about the upcoming price hike? Here’s what to do

(PHOTO: Think Tank Proposes Revolutionary Housing Reform to Boost Homeownership and Tackle Affordability Crisis

Drawing Lessons from Overseas

The SMF also says the UK can learn from places like Canada and Australia where they have better rules to stop rich people buying lots of houses and making prices too high. They suggest things like taxing empty houses and making foreigners pay more tax when they buy UK houses. The money from these taxes could then be used to help people who struggle to afford homes. These housing reform ideas show that there’s a real need for big changes in housing policy to make it fairer for everyone. With these proposals from the SMF which is housing reform the government needs to think seriously about how to make housing better. People are waiting to see if the government will listen and put these housing reform ideas into action. If they do it could mean a big difference for renters and people who dream of owning their own home in the UK.

READ ALSO: Gas Safety Week: 5 Essential Gas Safety Tips to Help Landlords Keep Their Properties Safe

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