Rising housing costs could pile pressure on smaller companies – Isme

could pile pressure on small employers, amid an ongoing cost of living crisis, representatives of small and medium-sized companies have warned.

It has called on for the immediate introduction of fiscal incentives to provide rental accommodation. Isme said the cost of accommodation had been the biggest driver of wage inflation for more than two years, but when taken alongside significant increases in food and fuel prices and an ongoing refugee crisis, it was a “perfect storm” for workers.

It said the reduction in rental properties and exit of landlords was down to interventions in the rental sector that had reduced rather than increased the supply of accommodation, such as the ending of Section 23 incentives, the reduction of deductibles for private landlords, the application of social charges to rental income and rent pressure zones that have frozen rents below market rates for some landlords.

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