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Sam Bowman Profile picture
@s8mb
Oct 15, 2025 • 3 tweets • 1 min read • Read on X
Under this bill, new tenants will be able to challenge their rent at a tribunal within six months of moving in. This means tribunals will be able to control all market rents, not just rent rises within a tenancy. This is straightforward rent control across the entire market. Image
The pretext of the bill is that tribunals will have to refer to market rates to determine if rent rises are ‘too high’.

But this is circular: all market rents, including new tenancies, will be set under rent tribunals’ jurisdiction. There will be no ‘market rate’ to refer to.
I’d previously thought that this bill was bad, but survivable. Now I realise that it controls rents *between* tenancies as well as within them, I believe that it is bringing first-generation rent controls to the English rental market. This could be very, very bad.

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More from @s8mb

Sam Bowman Profile picture
Aug 25, 2025
NEW by me: How Europe has let itself get poor, and how it can become rich again.

I lay out the four big areas I think Europe needs to reform to prosper again:

- Labour markets
- Energy
- Internal trade
- Access to capital

Read now below.

reason.com/2025/08/25/why…
In 1995, Western European productivity was 95% of the US's. By 2023, it was 80%.

Western European GDP per capita is $63,000 per year, adjusted for PPP; the United States's is $86,000. In just the last 13 years, the gap has grown by 8.6 percentage points. Image
In 2015, 52 of the world's top 100 companies by market cap were American & 28 were European. Now, the American total is 58—Europe has just 18 of the top 100 companies.

And Europe's largest company, the enterprise software provider SAP, is smaller by market cap than Home Depot.
Read 14 tweets
Sam Bowman Profile picture
Mar 13, 2025
🍍 Works in Progress issue 18 is out now 👶

Featuring:

- Prehistoric psychopaths
- The steam networks of NYC
- Urbanism with Chinese characteristics
- How we may conquer menopause
- The Hanseatic League's rise and fall
- The pineapple: the king of fruits

And more! Image
The Hanseatic League was a coalition of merchant cities that grew to dominate trade in Europe and even fought and won wars.

The League's rise and fall is a story of building and holding together a coalition, and of how technology shapes war & economics.

worksinprogress.co/issue/the-rise…Image
The pineapple is the world's most coveted fruit.

At 'peak pineapple', British aristocrats would pay the equivalent of $16,000 for a single one. Poor Londoners would pay for a single morsel to taste it.

Here's the story of how we tamed the pineapple.

worksinprogress.co/issue/king-of-…
Read 9 tweets
Sam Bowman Profile picture
Sep 20, 2024
Foundations: Why Britain Has Stagnated.

A new essay by @bswud, @SCP_Hughes & me.

Why the UK's ban on investment in housing, infrastructure and energy is not just a problem. It is *the* problem.

And how fixing it is the defining task of our generation.

ukfoundations.co
The UK has stagnated.

GDP per hour worked has grown by 7% since 2017 – 0.4% a year.

If we'd continued growing at the rate we had been between 1979 and 2008, we would be 25% richer.

As well as higher wages, that would mean £274 billion more in tax revenues every year. Image
Britain's stagnation is depressing but we can change that. We have done it before.

The UK's economy stagnated relative to the US, France, Germany & Italy in the postwar era.

But from the early 1980s, we began to rapidly converge with the US, and overtook our friends in Europe. Image
Read 17 tweets
Sam Bowman Profile picture
Jun 17, 2024
NEW: How Labour's plan to push through strategic projects like data centres and prisons can be made to work, by letting the local authorities affected retain 100% of their business rates bills. Image
We have a chronic problem with blocking projects that are nationally important but locally inconvenient.

Weak growth, housing shortages, crime, high energy costs, droughts and transport congestion are all downstream of this problem.


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Labour plan to decide on these projects at the national level to overcome local opposition.

That's good, but won't solve the problem – the Aquind Interconnector, equivalent to a new nuclear power station, was still blocked this way because of strong local opposition. Image
Read 9 tweets
Sam Bowman Profile picture
Feb 20, 2024
Here's what I learned reading about Israel's policies that give apartment owners the right to vote to redevelop their buildings into taller, denser developments with more units. 🧵 Image
In buildings built before 1980, homeowners can vote on proposals to tear down their older, dilapidated buildings and replace them with new ones. They get newer, bigger, apartments.

Here's the clever bit: the project is paid for with new apartments added to their buildings/plots. Image
That means that the regeneration can make existing homeowners better off AND deliver more homes.

These policies accounted for 2% of new homes built in 2010. Today, they account for *37%* of new homebuilding, and a whopping 50% of new homes built in Tel Aviv. Image
Read 10 tweets
Sam Bowman Profile picture
Nov 21, 2023
The most likely explanation for this is that the public is self-interested, and understands that a policy that incentivises capital-owners to consume their wealth or put it into distortionary avoidance schemes hurts them in the long-run.
Why does the public oppose randomly expropriating the property of people richer than them and 98% tax rates on millionaires? It must be their keen sense of fair play.
Even though people are usually pretty bad at guesstimating facts and figures about the economy, they're almost spot-on at guessing which taxes raise the most and least amounts of money. Image
Read 4 tweets

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