Jeremy Hunt has confirmed the government will limit social housing rent increases next year to 7% and not 5% as it previously suggested.

The chancellor, delivering the autumn statement earlier today, said the measure would “support people most exposed to high inflation”. Without intervention rents could’ve been put up by up to 11.8% under the existing inflation-linked limit.

Government had previously said 5% would be its preferred option but has now confirmed a higher limit of 7%.