O, the political corner. Yipee!
Well, they could build lots more houses to both force down house prices and rents. They could even get local councils to build lots of council houses to help out. This could be easily funded using the same magic money tree they use to fund university education.
More houses mean cheaper houses, mean cheaper rents, mean more money to use in the real economy, means more economic activity, means more jobs, means more people are better off, means a better life for everyone.
Of course it won't happen because those who are doing quite nicely now, thank you very much, while sitting on their arses doing nothing other than raking in the rents, will do everything they can to stop it.