‘Serious work’ with families needed to turn child poverty around, says Conservative MP We spoke to the Conservative MP David Simmonds – and began by asking if he thought the government needed to do better.
Schadenfreude: South Korean finance minister loses rented accommodation due to his own housing policy
South Koreas economy and finance minister has been evicted from his property as landlords react to new rules he helped to enact by rapidly replacing tenants so they can increase rents and deposits.
Hong Nam-Ki, who has served in politics for decades, is now left looking for a new home because his landlord is set to move into his accommodation when his lease ends in January. He is facing further trouble because the average deposit in the area where he lives has increased by a third since his rules came into effect back in July.
To combat the buy-to-rent demand in the country, Hong orchestrated the Housing Lease Protection Act, which restricts increases of “jeonse” deposits at 5 percent and allows tenants to extend two-year contracts for another two years, unless the landlord moves themselves into the property. Korea’s jeonse system involves a rent-free lease, with tenants paying landlords a returnable lump-sum deposit to live in a property for several years.