On 29th October the Chancellor of the Exchequer Philip Hammond will reveal his latest fiscal plans to an expectant nation, no doubt garnished with a few bad jokes.

But before his speech even starts, speculation has already been rife about whether he'll introduce measures to help 'generation rent' both experience a fairer private rental market and get onto the property ladder.

After a weak performance during the most recent General Election, and faced by voters who are increasingly renters rather than owners, many people believe he's preparing to offer up a renter-friendly budget brew.

So far not much has been leaked about what's going to be in his battered red box, but there is one big idea being mulled over at No.11 Downing Street.

Tax breaks

Conservative think tank Onward says the Chancellor should exempt landlords from Capital Gains Tax if they sell their home to a long-standing tenant. CGT is a 18% or 28% tax (depending on your tax bracket) paid by anyone selling a second home or investment property for a profit.

It has benefits for renters too. Onward is suggesting that the tax 'gain' made by the landlord would be shared with their tenant buyer, enabling these first timers to instantly gather a deposit together.

It’s an idea which has supporters within government, and Onward’s founder and Conservative MP Tim O’Neil was seen talking to the Chancellor recently.

Other policies in the pipeline

Next up is an imminent decision on compulsory three-year tenancies to give renters greater security.

Following a lengthy consultation and backed by Generation Rent, this would see tenants able to rent homes for up to three years as long as they pay their rent on time, treat the property well and stick to the conditions of their tenancy agreement.

A poll by CreditLadder backed this up recently. Among the 1,000 tenants who took part in our survey, 60% said they’d welcome longer tenancies.

Evictions limited

Introducing three-year tenancies may also in effect ban ‘no fault’ or Section 21 evictions - because tenants would have a right to stay in their home for at last three years.

Now landlords are able to eject tenants after six months without giving a reason, a measure commonly used by those who want to sell up or move back in the property themselves.

More regulation

Other likely measures discussed in parliament recently include forcing landlords in England to join a redress scheme, a national minimum standard for all rented homes, and to significantly increase the fines that ‘rogue’ landlords are given if they openly flout the law. The extra cash would be used to fund better policing of the private rented sector.

These measures would cap a very busy 12 months for the government, during which it has brought forward legislation or proposals in England to police landlords and estate agent better, ban almost all fees charged to tenants, bring in compulsory electrical checks for rented properties and cap rental deposits at six weeks.

CreditLadder can help you improve your credit score

If you want to improve your credit position by reporting your rent payments, CreditLadder is the only way to improve your credit score and position across all four of the main Credit Reference Agencies in the UK, namely Experian, Equifax, TransUnion and Crediva. Building up a high credit score has a lot of benefits, including helping you access finance at better rates - this can also help save you money.

CreditLadder also runs a free mortgage application service in partnership with Tembo which will tell you how much you could borrow.

Remember the information provided in this article is for information purposes only and should not be considered as advice.