The chancellor Rachel Reeves gave a major speech yesterday where she set out her “optimistic” vision for Britain’s economy with a plan for growth based around building “faster and better”.
The chancellor’s speech was given to an audience of business leaders at a factory in Oxfordshire operated by the German company Siemens, which makes the magnets for use in medical scanners.
Speaking near the location of what she hopes will become the UK’s version of Silicon Valley, Reeves warned that for too long the UK has been held up by “naysayers and blockers” blocking major infrastructure projects from being developed.
Her speech came a few hours after the Office for National Statistics had released its latest housebuilding figures.
The figures cover homebuilding by private firms, housing associations and local authorities across England, Wales, Scotland and Northern Ireland.
The new government has pledged to build 1.5 million new homes over five years and green light 150 decisions on major infrastructure projects by the end of the parliament, supported in part by sweeping planning reform.
Terry Woodley, MD of development finance at Shawbrook, commented: “Reducing planning red tape and streamlining processes is going to play a crucial role in delivering the ambitious 1.5million new homes target. Whilst it’s positive to see the Chancellor address this through the Plan for Change for working people, it’s not the only answer: a multi-faceted approach is needed to really address the issues currently facing developers.
“It will be interesting to see the government take its proposed next steps, which include streamlining a set of national policies for decision making to better guide planning decisions taken by local authorities. However, this doesn’t address the recruitment and training of additional planners which will take time, or the skills shortage in the sector. The Government must prioritise effective, comprehensive planning overhauls to kickstart progress and unlock the UK’s full housebuilding potential.”
Craig Carson, managing director at Barratt West London, welcomed the chancellor’s speech.
He remarked: “With an ambitious target to build 1.5 million new homes over the next few years, it is encouraging to see that the government is implementing planning initiatives to make this more achievable, including a default green light for future developments near commuter transport hubs. This will not only promote homebuilding in these high potential areas, but will also speed up the delivery of these much-needed homes by removing some of the red tape when it comes to planning.”
Nick Sanderson, CEO at Audley Group, believes that the chancellor has rightly focused on the need to unlock the complex and sometimes bureaucratic planning system.
He commented: “The Planning and Infrastructure Bill must address the housing challenge this country faces in a more creative way. It;s not just about approving large scale housing developments for first time buyers. It’s about enabling the building of more specialist housing, like much needed units for older people, to free up the houses we already have. Only then can we see the growth that the Chancellor is focused on delivering, as well as giving people across the country the right housing for their needs.”
Rachel Reeves pledges to go ‘further and faster’ in pursuit of growth
Read the orginal article: https://propertyindustryeye.com/rachel-reeves-banks-on-planning-reform-for-growth-as-housebuilding-completions-rise/
