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One in three borrow for rent, Corbyn pledges housing revolution
Nancy Taaffe, Waltham Forest Socialist Party
One in three people have borrowed money just to pay the rent - some from family and friends; others with interest and fee-charging overdrafts, credit cards and payday loans.
The figures from housing charity Shelter reveal that of nearly 1.6 million private tenants on low incomes, around 511,000 had borrowed for rent during the past year.
And phenomena like this are not only applicable to London.
A recent Radio 4 PM programme followed the plight of two young Liverpudlians as they struggled to find a place to set up home and start their life together. It found a pattern of financiers, billionaires and oligarchs snapping up new builds and empty properties for investment, while young couples struggle to find a home they can afford.
The super-rich see Britain's inflated property market as a safe store for funds. On top of this, the head of the National Crime Agency believes organised criminals use the London property market to launder money.
Hoarding and speculation
This hoarding of empty homes by the bosses - whether gangster or legit - is coupled with decades of council house sell-offs and the abolition of rent control. The knock-on is shortage and speculation on such a scale that housing costs now bear no resemblance to reality.
But while we live through housing horror stories, we have also watched the publication of Jeremy Corbyn's election manifesto. It goes some way in attempting to right the housing wrongs of the past. Compared to what exists now, it could represent the start of a housing revolution.
Labour's manifesto includes the following promises:
- Ramping up construction of council and housing association homes to reach 100,000 a year by the end of the next parliament
- Ending the Tory ban on long-term council tenancies
- Capping private rent rises at inflation
- Making three-year tenancies "the norm" for private renters
- Reinstating housing benefit for 18 to 21-year-olds
- Consulting on new rules against 'rabbit hutch' homes
- Giving leaseholders "security from rip-off ground rents"
The Socialist Party supports these first steps in trying to take charge of housing policy and plan it for human need. We will be out campaigning for this programme to win - and for Corbyn to push it further.
For a start, we call for nationalising land, the finance sector and the big construction firms - under democratic working class control and with compensation only on the basis of proven need. This is necessary to free up the money supply and end property speculation.
We will wholeheartedly campaign for a Corbyn-led government. But if the worst happens on 9 June, we have no intention of rolling over and allowing a whole generation to be locked out.
As the Butterfields tenants and then the One Housing tenants have shown in east London, when tenants organise and fight, we can beat the landlords.
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The coronavirus crisis has laid bare the class character of society in numerous ways. It is making clear to many that it is the working class that keeps society running, not the CEOs of major corporations.
The results of austerity have been graphically demonstrated as public services strain to cope with the crisis.
The government has now ripped up its 'austerity' mantra and turned to policies that not long ago were denounced as socialist. But after the corona crisis, it will try to make the working class pay for it, by trying to claw back what has been given.
- The Socialist Party's material is more vital than ever, so we can continue to report from workers who are fighting for better health and safety measures, against layoffs, for adequate staffing levels, etc.
- When the health crisis subsides, we must be ready for the stormy events ahead and the need to arm workers' movements with a socialist programme - one which puts the health and needs of humanity before the profits of a few.
Inevitably, during the crisis we have not been able to sell the Socialist and raise funds in the ways we normally would.
We therefore urgently appeal to all our viewers to donate to our Fighting Fund.
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