While experts predict public spending by cuts and stealth tax rises in today’s Spring Statement, a Build To Rent group wants the reinstatement of a tax benefit.

The Association for Rental Living wants Chancellor Rachel Reeves to reinstate Multiple Dwellings Relief.

Brendan Geraghty, the association’s chief executive, says: “The impact of the abolition of Multiple Dwellings Relief, which came into effect as of June 1  2024, on Build to Rent has been significant wiping up to £800m off valuations in one fell swoop and continuing to impact the viability of delivering new homes to rent today. 

“With the Build to Rent sector’s ability to deliver two million additional, high-quality homes to rent, we urge the Chancellor to take every opportunity to pull the Build to Rent lever, with the reinstatement of Multiple Dwellings Relief a clear choice to boost investor confidence and deliver the new homes so vocally desired by the Government.”