Investment

Prime Minister’s Cash Injection Investment to Kick Start the Economy

Wednesday, 1 July 2020

Prime Minister’s Cash Injection Investment to Kick Start the Economy

Yesterday, at the end of June, 3 months after the UK and its economy was forced into an emergency stop, the Prime Minister set out his vision for investment to help the UK to “build back better” after the Covid-19 pandemic.

Two of the key themes covered in the speech were reforms to the planning system and investment in infrastructure

Reforms to the planning system in England

In a concerted effort to reinvigorate the economy after the Covid-19 pandemic, more detail was set out in a Government press release on the proposed reforms to the planning system in England. The references included the following:

Change of use  (Legislation is to be brought into force by September 2020)

To allow more changes of use for existing commercial property, including making it easier to convert commercial to residential, re-use brown-field sites for residential and make it easier for space to added above existing properties.

Planning policy Reforms – (Policy Paper to be launched in July)

Including plans for a £12bn Affordable Homes programme for 180,000 new homes, a £400m Brownfield Land Fund for areas including the West Midlands and a Home Builders Fund to help facilitate new housing developments.

Investment in infrastructure

The Government press release on investment in roads and rail confirms investment of £100 million across England to improve the quality of local roads and improvement across all road, rail, air and sea links.

Current proposals are fairly vague, and more detail will be forthcoming from Government in the coming weeks and months.

If you would like to discuss any aspects of planning, are looking for development land or are considering selling land on option & promotion, or you would like to have a conversation about land or building options for diversification, please contact one of our offices for a no-obligation consultation.

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