Source · Select Committees · Housing, Communities and Local Government Committee
Recommendation 45
45
Acknowledged
Paragraph: 183
The social housing sector has commercialised and diversified almost beyond recognition since 2011.
Conclusion
The social housing sector has commercialised and diversified almost beyond recognition since 2011. That nothing has gone seriously wrong yet should be no cause for complacency, especially as we enter a period of rising inflation and interest rates. A single failure in the sector could be catastrophic, particularly given that the assets of housing providers primarily comprise people’s homes. We therefore welcome the strengthening of the regulator’s powers in the Social Housing (Regulation) Bill. At the same time, however, the Regulator of Social Housing needs the skills and capacity to continue to regulate the economic standards effectively. Having an adequately resourced regulator is not, as was suggested to us, a sign of failure in the sector.
Government Response Summary
The government welcomes the Committee's recommendations regarding their role and will carefully consider them as they continue to develop their approach to proactive consumer regulation.
Paragraph Reference:
183
Government Response
Acknowledged
HM Government
Acknowledged
We welcome the Committee’s recommendations regarding our role, which are both timely and very helpful at this point. We will carefully consider them as we continue to develop our approach to proactive consumer regulation.