Cheltenham’s Businesses Don’t Need Tax Cuts, Handouts Or Subsidies.

What Cheltenham Business Needs are Customers With Money To Spend.

Reversing rent increases can revive local communities.

Once upon a time Cheltenham’s high streets were buzzing with life, shops packed with customers, cafes overflowing, and local businesses thriving. Now look around—empty shop units, boarded-up windows, and a high street that’s lost its spark. Why? It’s not because businesses need more tax breaks, grants, or deregulation. It’s not because of loopholes or special measures. The truth is brutally simple: businesses need customers with money in their pockets. And right now, Cheltenham’s tenants—your everyday workers, families, and dreamers—are being bled dry by skyrocketing rents. We’re here to fix that, and we’ve got a plan to put cash back where it belongs: in tenants’ hands, ready to spend locally and revive our town’s economy.

The Problem: Housing Costs Are Killing Cheltenham’s Economy

Let’s cut through the noise. Over the last 20 years, salaries haven’t kept up. If you’ve been in the same job since 2005, your pay might look similar in raw numbers, but what you can buy with it? That’s a different story. Back in the 1970s, you could snap up a house for four times your annual income. Today, it’s six to eight times—and you’re likely getting a smaller place for it! Prices for everything—food, utilities, transport—have crept up, but the real culprit draining your wallet is housing.

In Cheltenham, tenants are routinely forking out 40% of their income on rent. That’s not living; that’s surviving. When nearly half your paycheck goes to a landlord, what’s left for local shops, cafes, or even a night out? Nothing. And when tenants can’t spend, businesses suffer. Empty shop units aren’t a mystery—they’re a symptom of an economy where ordinary people have no cash to spare. The wealth hasn’t vanished; it’s been funneled into housing, lining the pockets of landlords and property speculators while Cheltenham’s high street starves.

The Myth of Tax Breaks and Deregulation

Politicians and big business love to peddle the same tired story: give companies tax breaks, handouts, or fewer rules, and they’ll magically thrive. Wrong! Cheltenham’s businesses don’t need another loophole or grant—they need customers. Studies show that working-class and middle-income people spend money locally when they have it. Give a tenant an extra £200 a month, and they’re buying coffee, groceries, or clothes on the high street. Give a wealthy landlord or corporation the same amount? They’ll stash it in a bank or offshore account, taking it out of circulation. The data backs this up: low- and middle-income households have a higher marginal propensity to consume, meaning they spend a larger share of extra income compared to the wealthy (UK Office for National Statistics, 2023).

Tax breaks and deregulation often just pad profits for the already rich, doing little for local economies. Meanwhile, Cheltenham’s tenants are stretched thin, unable to fuel the businesses that make our town vibrant. The solution isn’t trickle-down economics—it’s putting money directly into tenants’ pockets by tackling the housing crisis head-on.

Our Solution: Truly Affordable Rents at 25% of Income

The Cheltenham Tenant Union has a game-changing plan to revive our local economy: make rents truly affordable by capping them at 25% of a tenant’s income. Right now, the government’s definition of “affordable” rent—80% of market rates for private rentals and 50% for social housing—is a joke. It’s tied to a market skewed by inequality, where a few high-end properties or Airbnb rentals jack up prices for everyone. We’re calling on Cheltenham Borough Council to ditch this nonsense and set rents based on what tenants actually earn, not what the market dictates.

Here’s how it works: if you earn £25,000 a year, your rent should be no more than £5,000-£6,250 annually (£416-£520 monthly). Compare that to the £800-£1,000 many Cheltenham tenants pay now, and you’re looking at £3,000-£4,800 extra in their pockets every year. That’s money for local shops, restaurants, and services—money that keeps Cheltenham’s economy alive. By reversing the rent hikes of recent years and targeting a 25% cap, we’re not just helping tenants; we’re saving our high streets.

Why It Works: The Economic Multiplier Effect

When tenants have more disposable income, they spend it locally, creating a ripple effect. Economists call this the multiplier effect: every pound spent at a local business circulates, supporting jobs, suppliers, and more spending. A 2022 study by the Joseph Rowntree Foundation found that reducing housing costs for low-income households boosts local economies more than tax breaks for businesses, as tenants are more likely to spend than save. If Cheltenham’s 10,000+ renters (estimated from 2021 Census data) each had an extra £200 a month, that’s £24 million annually injected into local businesses. Empty shop units? They’d be a thing of the past.

Contrast this with giving landlords or corporations more cash. Wealthy property owners often save or invest profits elsewhere, not in Cheltenham’s cafes or boutiques. Since the 1971 Bretton Woods collapse, asset values (like property) have skyrocketed while wages stagnated, concentrating wealth in fewer hands. Our plan flips this script, redistributing economic power to tenants and, by extension, to the businesses they support.

How We’re Making It Happen

The Cheltenham Tenant Union isn’t just talking—we’re acting, with collective power that’s unstoppable. Here’s our playbook:

• Lobbying for Change: We’re pressuring Cheltenham Borough Council to adopt income-based rent caps at 25% and protect tenants from evictions for arrears when rents are unaffordable. We’re using data from tenant surveys and Marks Out Of Tenancy (www.marksoutoftenancy.com) (www.marksoutoftenancy.com), a platform where renters rate landlords and properties, to show how 40% rent burdens are crippling our community.
• Boycotting Rogue Landlords: Through Marks Out Of Tenancy, we’re identifying landlords who charge extortionate rents or pursue unfair evictions. Tenants are boycotting these exploiters and supporting ethical landlords who keep rents fair, putting pressure on the market to change.
• Electing Pro-Tenant Leaders: We’re coordinating tenant votes with voter guides to elect council members who’ll fight for affordable rents and regulate short-term rentals like Airbnb, which shrink housing supply and drive up costs. By 2026, we aim to have three pro-tenant councillors committed to our cause.
• Building an Ethical Letting Agency: We’re pushing Cheltenham Borough Homes to launch an ethical letting agency by 2027, managing 500 properties with rents capped at 25% of income. This will set a standard for private landlords to follow or lose tenants.

Tackling the Airbnb Problem

Short-term rentals like Airbnb are a massive drain on Cheltenham’s housing stock, turning homes into tourist cash machines and driving up rents. Our plan to restrict one-, two-, and three-bedroom properties from short-term use will return 200 homes to residents by 2027, easing supply pressures and making rents more affordable. That’s more tenants with cash to spend locally, fueling businesses instead of holiday lets.

Protecting Public Housing

We’re also guarding Cheltenham Borough Homes from privatization. If council housing is sold to private equity or pension funds, rents will skyrocket as profits take priority. By keeping it public and capping rents at 25% of income, we ensure tenants have money to spend, not just survive.

The Bigger Picture: A Fairer Cheltenham

This isn’t just about rents—it’s about rebuilding an economy that works for everyone. Back in the 1970s, housing was affordable because it was tied to what people earned, not speculative markets. We’re fighting to bring that fairness back, ensuring tenants aren’t squeezed dry and businesses aren’t left begging for customers. When tenants have money, Cheltenham thrives—shops stay open, jobs are created, and our community comes alive.

Call to Action

Tenants, this is your fight! Join the Cheltenham Tenant Union, rate your landlord on Marks Out Of Tenancy, and let’s show the council and landlords we mean business. Sign up for our newsletter, come to our rallies, and vote for candidates who’ll cap rents at 25% of your income. Businesses, support us—because when tenants have cash, you get customers. Together, we’ll put money back in tenants’ pockets, bring life back to our high streets, and make Cheltenham a place where everyone can thrive, not just the wealthy few.