Question to the Ministry of Housing, Communities and Local Government:

To ask the Secretary of State for Housing, Communities and Local Government, what assessment she has made of the potential impact of the proposed prohibition of upwards-only rent reviews in all commercial property leases contained in the English Devolution and Community Empowerment Bill on (a) institutional finance markets and (b) speculative development funding sources in the context of (i) large scale urban regeneration projects and (ii) other development projects.

The government conducted extensive research and engagement before deciding to ban upwards only rent reviews. In the last quarter of 2024, 1 in 7 high street properties were vacant. Whilst we recognise the ban removes a guarantee of return from investors, it will support growth overall by making rents fairer and allowing businesses to access and invest in our High Streets.