Vicky Spratt: ‘Unaffordable housing costs have already fuelled populist politics in Britain and Europe’ . The run-up to the 4 July general election has taken over, but a story unfolding across Europe deserves attention: the rise of populist far-right politics.
The truth is that these issues are caused by macroeconomic forces such as inflation, rising interest rates, post-2008 restrictions on mortgage lending, and a lack of regulation to prevent asset price inflation. Housing was a key concern for voters in last year’s Dutch elections. These were won by the far-right Freedom Party headed by Geert Wilders, who is openly anti-Islam. Similarly, in Portugal, where there have also been protests about housing costs,The Labour Party may currently be leading in the polls, but experts warn that unaffordable housing could yet become a political tool for populist politicians in Britain too.
Vicente Valentim is a postdoctoral prize research fellow in politics at Oxford University’s Nuffield College, where he specialises in populism and the far-right. Speaking to me over the phone from Spain, Valentim explains that “British homes for British people” sounds like “a typical far-right slogan”.
“Controlling” immigration, as both Reform and the Conservatives are making vows to prioritise, won’t necessarily make housing more affordable or accessible, though. As I’ve reported at length, rents are high because demand is high, and homes are expensive because of mortgage lending and the fact that sellers have an expectation of what their home is worth.. But one thing is for sure: unaffordable housing costs have already fuelled populist politics in Britain and Europe.
Reform have said that they would abolish the Renters’ Reform Bill. This was a landmark piece of legislation introduced by outgoing Housing Secretary Michael Gove. It banned “no fault” Section 21 evictions and made tenancies more secure for renters. Reform would ditch all of this. The Conservatives and Labour have both committed to passing the Renters’ Reform Bill if elected.