Rent control has had catastrophic results for the poorest and most vulnerable. Therefore, we ask that the Government reject calls by the Mayor of London for him to be given the power to bring in rent control.
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The Mayor of London has stated that he is asking the government to give him the power to implement rent control. Economists on the left and the right agree rent control reduces the quality and quantity of housing. Liberal Economist Paul Krugman says its failure is 'among the best-understood issues in all of economics'. In New York, for example, rent control has led to rundown properties and breeding grounds for crime. Rent control doesn’t work and must be rejected in the strongest terms.