David Miles hits out at “profoundly wrongheaded” anti-landlord policies
Yes, that David Miles (who served on the MPC for six years up until 2015) and yes, those anti-landlord policies that hit property investors with punitive stamp duty rates while at the same time stripping loan interest from the list of tax deductibles… Miles was speaking at a New City Agenda event when he hit out at the Government for attempting to curry favour with first-time buyers by punishing landlords. Punish landlords, he argues, and tenants pay. Which is precisely what we were saying this time last year. But that was before the Brexit vote. Now – with European visitors wary of commitment and the market already (anecdotally) shrinking, and with tenants’ own economic future less certain – the question is… can demand and affordability sustain rising rents?