Rental sector crucial to UK economy, MP states

28 2008
Britain's national economy would "grind to a halt" without the private rental sector, one MP has argued.

Speaking as growing numbers of professionals are choosing to stay in or move into rental accommodation rather than attempt to purchase a property in a time of economic uncertainty, Iain Wright has explained that he sees the sector as having a key role in the nation's well-being and is keen to champion its cause.

The parliamentary under secretary of state for communities and local government made the comments at a recent House of Lords reception hosted by the National Approved Letting Scheme (Nals).

He added that he hopes to see greater incentives introduced to ensure that landlords act scrupulously, while those who take advantage of tenants are punished.

Caroline Pickering, Chair of NALS, echoed Mr Wright's calls for greater accreditation, stating: "With the recently announced government review of the private rented sector, we believe the industry needs to focus on promoting and raising awareness for the highly regarded and reputable accreditation schemes already in place to encourage more people to aspire to best practice."

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