Unfortunately, and despite this week’s announcement of a ban on new leasehold flats and a ground rent cap of £250 on existing leases, Labour, too, is showing signs of timidity. The 40-year period before ground rent is phased out, in favour of nominal “peppercorn rent”, is also too long. The Tories’ Leasehold and Freehold Reform Act took the first step with a ban on new leasehold houses. Since modern ground rent is a recent invention, those affected tend to be younger adults who may have student loans to repay as well as bigger mortgages than their parents. Mr Pennycook was right when he urged the Tories to be brave in standing up to property investors.