Big Issue Foundation

Breakthrough for #generationrent?

Big Issue founder and cross-bencher at the House of Lords John Bird has taken a fresh stand against one of the main causes of poverty this summer as he launched his private members only bill (The Credit Worthiness Bill) aimed at making reasonable credit more accessible for renters.

Big Issue founder and cross-bencher at the House of Lords John Bird has taken a fresh stand against one of the main causes of poverty this summer as he launched his private members only bill aimed at making reasonable credit more accessible for renters.

Lord Bird hopes The Credit Worthiness Bill will “level the playing field” for a generation that many are referring to as “generation rent”.

Currently 11 million people across the UK live in rented properties, and almost two out of three people aged under 45 are having to “put their lives on hold” because they cannot find suitable housing. The rental payments made by this vast number of the population are not currently being recorded or recognised in the same way mortgage payments are. As a result, some of the country’s least well-off pay the most to borrow, including repayment contracts for white goods, utilities and mobile phones.

Lord Bird’s bill seeks to “help reliable rent-payers get the same advantages as reliable mortgage payers” by ensuring that consistent rent payments are viewed in the same favorable light as mortgage payments, hence helping renters access reasonable credit.  The bill would achieve this by obliging credit service providers to take rental payment data and council tax payment data into account when considering credit.

This is not the first time the issue has been raised, and earlier this year a petition was launched demanding that “paying rent on time to be recognized as evidence that mortgage re-payments can be met”. The petition received over 147,000 signatures before it was closed early due to the general election.

If we can help more people get better credit files and scores, we can help more people move further away from poverty

This discussion can only seem more significant in the wake of the Grenfell tower tragedy, and whilst the issue of poverty policy has been addressed by the country’s leading politicians including Theresa May, Jeremy Corbyn and Nicola Sturgeon the issue remains one of the most concerning for young people in the UK.

The Big Issue have been active in championing increased awareness and stronger governmental action regarding the prevention of poverty. If you are passionate about ending poverty and want to get involved- why not join the big issue’ #activistarmy and challenge your local MP on how they intend to combat poverty, work for better literacy, and offer routes towards better futures rather than simply bandaging up issues and continuing on.

Bigger Issues need bigger solutions

Big Issue Group is creating new solutions through enterprise to unlock opportunities for the 14.5 million people living in poverty to earn, learn and thrive. Big Issue Group brings together our media and investment initiatives as well as a diverse and pioneering range of new solutions, all of which aim to dismantle poverty by creating opportunity. Learn how you can change lives today.

Recommended for you

Read All
Fabulous Fleecy Fundraising
Big Issue Foundation

Fabulous Fleecy Fundraising

Vendor Updates: Summer 2022
Big Issue Foundation

Vendor Updates: Summer 2022

‘Unknown’ to be staged across UK during a month long tour this Autumn
Big Issue Foundation

‘Unknown’ to be staged across UK during a month long tour this Autumn

Putting His Best Foot Forward
Big Issue Foundation

Putting His Best Foot Forward

Most Popular

Read All
All the places where kids can eat free during the summer holidays
1.

All the places where kids can eat free during the summer holidays

This Twitter bot is exposing celebrities taking three-minute private jet flights
2.

This Twitter bot is exposing celebrities taking three-minute private jet flights

Will free school meals and vouchers be offered over the summer holidays?
3.

Will free school meals and vouchers be offered over the summer holidays?

Estate agents caught saying they don't rent homes to people on benefits
4.

Estate agents caught saying they don't rent homes to people on benefits

Keep up to date with the Big Issue. The leading voice on life, politics, culture and social activism direct to your inbox.