THE ‘right to buy’ (actually a hugely discounted giveaway) and the ending of rent controls in the 1980s started the housing crisis. The council homes sold have never been replaced.

Since then houses have been regarded as investment opportunities rather than homes.

Now investors get larger returns on property speculation than they do from putting money into productive enterprises.

Nationally, owner occupation has been falling since 2003 and only 36% of 24 to 34-year-olds are buying their own homes. The average age for a first mortgage is 38. Half of all 16 to 34-year-olds rent privately.

The housing benefit bill has risen as rents have followed house prices upwards especially as younger adults have suffered the biggest fall in incomes under the Tory/Lib Dem coalition. The doubling of the housing benefit bill under the coalition has mainly benefited buy-to-let landlords. With leases being typically 12 or even 6 months tenants feel insecure and uncertain of their future. My own daughter has returned home tired of struggling to pay rent and unable to afford to buy. An estimated 60,000 families spent last Christmas in emergency housing.

In Herefordshire we have a toxic combination of low wages and relatively high house prices so the dream of owning one’s own home remains just that. Over 5,000 are on the council’s housing register.

The coalition government has chosen to use taxpayers money to subsidise potential home ownership, fuelling house demand and price without addressing supply. Whilst it is right to encourage home ownership, Labour will also address the needs of renters. Three-year tenancies and ceilings on rent rises will give tenants security. We will prioritise capital investment to allow more ‘council’ houses to be built.

Labour aims to be building 200,000 houses a year by 2020, creating jobs as well as much-needed homes.