5,000 signatures reached
Call for a moratorium on rent and mortgages during the Covid 19 emergency
Introduce legislation requiring a moratorium on rent and mortgage interest being incurred during the Covid-19 emergency, along with a payment moratorium on both.
This would apply to both housing and commercial premises.
Why is this important?
Because of restrictions which are required to save lives, during this emergency, many businesses and employees will face unprecedented strain on their finances, with businesses forced to shut and employees suddenly laid off.
The proposed moratorium is aimed at preventing the health emergency becoming a long term economic emergency and adding to the homeless crisis.
The key is that it needs to be not just a moratorium on payment, but a moratorium on the rent and interest being incurred. Otherwise at the end of the moratorium landlords/banks could come looking for, say, 3 months arrears resulting in a spate of people getting evicted and businesses closing down.
It is recognised that this proposal interferes with property rights, but is proportionate to the unprecedented situation and to the restrictions being placed on people and the use of their property, so would be constitutional.
This is an extreme measure, but a necessary one.