§ Mr. Waldegrave
The current state of the private rented sector is unsatisfactory. The sector has an important role in increasing choice and job mobility, yet it has declined from 57 per cent. of the housing stock before the war to only 8 per cent. today. We intend to introduce legislation to deregulate new private lettings, building on the existing assured tenancy and shorthold letting schemes. This will stimulate new investment by combining reasonable returns for landlords with statutory protection for tenants. These changes will not affect existing tenants.