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FINANCE

Welfare reforms have failed to cut cost of renting

London Councils has reported coalition welfare reforms have failed to reduce rents and could increase housing costs.

Coalition welfare reforms have failed in their aim of reducing rents and might even be causing a hike in housing costs in the capital, London Councils has reported.

Its study Tackling Welfare Reform: The Impact of Housing Benefit Reform in London finds changes to the local housing allowance have seen rents increase by more than 20% in recent months – increasing property costs for all tenants.

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