as the supply of affordable housing is also expanding more slowly than demand social renting is an increasingly restricted alternative fiscal consolidation since initially reduced inequality as tax increases hit highincome households the most but phasedin benefit cuts may have the opposite effect going forward jin et a i the council tax which is regressive should be replaced by a property tax based on market values with safeguard mechanisms for housing rich but income poor households as well as reducing inequality this could improve the stability of the housing market oecd a chapter