Chancellor Jeremy Hunt will cap social rent increases to 7% next year, according to unconfirmed reports ahead of today’s Autumn statement.

The Financial Times is this morning reporting the government has opted for a cap of 7%, higher than the 5% limit which was previously the government’s preferred option.

According to a government impact assessment in August, a 7% limit would reduce social landlords’ rental income by £4.9bn over five years, compared to £7.4bn it would have been under a 5% limit.