The key point is that Labour was in power for 13 years and did not address this, whereas we have gone out there and put together a model tenancy that we plan to announce in the near future, and that will address that very issue about extending tenancies, through a negotiation between the landlord and the individual, to give some certainty, particularly for families.
We want to make sure that the private rented sector grows. We want it to be bigger, better and more professional, so that it attracts investors to take a long-term financial view, rather than having the short-term return model currently associated with this sector, which is why we went out there with a £1 billion Build to Rent scheme—a loan scheme. The first round has allocated some £124 million, which will deliver some 16,000 houses, and we are now in contact with further individuals and organisations and will make those announcements in the near future. The bulk of that £1 billion was in round two and we are in detailed negotiations about 16 projects. It is a very important part of the offer to grow and build on the private sector, to challenge poor behaviour, and to make sure we have high-quality private rented houses available.
In conclusion, we are not complacent about the position we are in. We picked up a smashed and broken industry. A strong industry is now emerging, but it has taken time
to address and fix the problems left by the last Government—the banking industry issue, the lost jobs and skills, the factories that went to the wall. We are rebuilding the companies that failed and giving them the confidence to come forward and invest. So far, some 440,000 new homes have been delivered, but that is not enough, and we are determined to deliver more. I have to say to the House, however, that regardless of what I have said here today, this will be down to the graft of those individuals on the building and construction sites out there, it will be down to the risk takers who are investing in house building again, and it will be down to the young apprentices who are making a commitment to learning and developing their new career skills. The role of this Government is to support those champions of that industry. Every part of this Government is committed to delivering new homes—the homes that are needed—and I ask the House to reject this motion.