Early retirement and ageing population causing labour shortages: Lords report 4 years ago
The ageing population bought up all real estate in the 70s/80s/90s and instituted fierce wage competition by allowing massive immigration.
If they lower the rents, perhaps people feel that it is worth working again.
Supply and demand does not work in the labor market if worker supply is unlimited and 90% of your income goes to rent seekers of various kinds.