To ask the Deputy Prime Minister what representations he has received from registered social landlords on allowing them to exceed the cap in relation to the rent increases set down in the Government's rent restructuring policy; and if he will make a statement.
The Office of the Deputy Prime Minister was created in May 2002. Since this time, we have received four written representations from registered social landlords (RSLs) seeking a revision to the cap on rents of properties with the highest capital values which is incorporated into our rent restructuring policy. The current cap in 2003–04 ranges from £87.30 for a bedsit to £102.70 for a property with four or more bedrooms. For the small number of properties affected by this safeguard, the maximum increase in future years is set at Retail Price Index (RPI) plus 1 per cent. a year.
As set out in our initial policy, the Office of the Deputy Prime Minister is currently conducting a three-year review of the policy, with the aim of completing this in the spring.