Skint? Tired of renting? Here's what Rachel Reeves is doing for Gen Z…

The Shadow Chancellor has vowed to fix the broken housing market to help young people get on the property ladder

Generation Rent could soon be a thing of the past if Labour gets into power, with Shadow Chancellor Rachel Reeves setting out a series of policies aimed at helping young people buy their own homes.

In a speech to the party's annual conference, Reeves said that the housing market was "broken" and that the current system was "failing young people".

She pledged to build more affordable homes, give first-time buyers a leg-up onto the property ladder, and crack down on rogue landlords.

Key policies

• Build more affordable homes: Reeves pledged to build 100,000 new affordable homes a year, including social housing and homes for first-time buyers.
• Give first-time buyers a leg-up: Reeves said she would introduce a new Help to Buy scheme that would provide government-backed loans to first-time buyers, enabling them to buy a home with a smaller deposit.
• Crack down on rogue landlords: Reeves vowed to introduce a new renters' reform bill that would give tenants more rights and protections, including a ban on unfair evictions and the introduction of rent controls.

Reeves said that her policies would make a "real difference" to the lives of young people.

"For too long, young people have been priced out of the housing market," she said.

"Our policies will help them to buy their own homes, and give them a stake in the future."

Reaction

The Labour Party's housing policies have been welcomed by housing charities and campaigners.

Polly Neate, chief executive of Shelter, said: "Rachel Reeves' speech shows that Labour understands the scale of the housing crisis and is committed to taking action."

"Her policies would make a real difference to the lives of millions of people who are struggling to afford a decent home."

However, the Conservative Party has criticized Labour's plans, saying that they would be too expensive and would not solve the housing crisis.

Conclusion

The housing market is a major issue for young people, with many struggling to afford to buy their own homes.

Labour's policies are designed to address this issue and help young people get on the property ladder.

The plans have been welcomed by housing charities and campaigners, but the Conservative Party has criticized them as being too expensive.