BPF urges EU Referendum certainty
The British Property Federation (BPF) has commented on the impact that the European Union Referendum Bill, announced in today’s Queen’s Speech, could have on the real estate industry.
Melanie Leech, chief executive of the British Property Federation, commented:
“The prospect of an EU Referendum will bring a lot of uncertainty and, as we saw ahead of the Referendum in Scotland, this can cause a significant slowdown in investment activity, which could impact negatively on the built environment.”
“We urge the government to provide clarity about its parameters and timetable as soon as possible to reduce this risk.”
Response to Housing Bill announcement
The British Property Federation (BPF) has commented on the Housing Bill, which was announced in today’s Queen’s Speech.
The organisation has commented on a number of provisions within the Bill:
- To increase the supply of new Starter Homes (to be exclusively offered to young first-time buyers, at a 20 per cent discount below their open market value)
- To introduce a statutory register for brownfield land, to help achieve the target of getting Local Development Orders in place on 90% of suitable brownfield sites by 2020.
- To simplify and speed up the neighbourhood planning system, to support communities that seek to meet local housing and other development needs through neighbourhood planning.
Melanie Leech, chief executive of the British Property Federation, commented:
“It is welcome to see the announcement of a Housing Bill. The government has a huge task on its hands if it is to deliver enough new homes to house future generations, and must focus on supply-side solutions to meet demand. The devil will be in the detail, and there is an opportunity for innovative suggestions to drive forward supply.”
“The Starter Homes initiative holds potential, but we have several questions around the realities of delivery and whether there will be sufficient infrastructure provision on the allocated sites.”
“The focus on brownfield land is similarly positive, but we have doubts about how much suitable land will come to market. Local Development Orders are not the silver bullet and experience shows that they are costly for local authorities to produce.”
“Neighbourhood planning changes are to be welcomed, particularly if they enable pro-growth, business-led neighbourhood plans to come forward with greater speed.”
Response to Cities and Local Government Devolution Bill
The British Property Federation (BPF) has welcomed the Cities and Local Government Devolution Bill announced in today’s Queen’s Speech.
Melanie Leech, chief executive of the British Property Federation, commented:
“The announcement of the Cities and Local Government Devolution Bill is a welcome step forwards, and is something that holds enormous potential for the real estate industry. The BPF has long advocated the role that devolution can play in unlocking regeneration and growth around the country, and the potential it has for the creation of jobs, homes and infrastructure.”
“We would like to see the government take this forward by appraising government initiatives and build on those growth and city deals that are already in place such as City Deals and local Enterprise Partnerships, and to focus on devolution across the whole country, not just in relation to the Northern Powerhouse. We urge government to allow all areas of the UK, not just those with a Mayor, to be able to benefit from these new, devolved powers.”
Response to NHS funding commitment
The British Property Federation (BPF) has commented on the commitment to funding the NHS’ five-year plan announced in today’s Queen’s Speech.
The government will increase investment in the NHS by £8 billion a year to 2020 to allow it to implement its Five Year Forward View, integrating health and social care, improving access to GP surgeries and increasing the number of GPs, and ensuring dignity in old age.
Melanie Leech, chief executive of the British Property Federation, commented:
“It is important that government recognises that if access to GP services is to be increased, it is vital that the premises within which care is delivered are improved. The UK’s healthcare infrastructure badly needs updating, and there are a number of UK institutions who are poised to enter this sector. Government must harness this investment which will allow the property industry to help create a modern, fit-for-purpose healthcare system.”
“It is good to see the government recognise that it is best to allow the NHS deliver its own plan, rather than be subject to lengthy, top-down reorganisation which could deter investment.”
Response to business rates provisions within Enterprise Bill
The British Property Federation (BPF) has commented on provisions for changing the business rates appeals system within the Enterprise Bill announced in today’s Queen’s Speech.
The Bill seeks to legislate to:
- Improve the business rates system ahead of the 2017 revaluation, including by modernising the appeals system.
- Introduce business rates appeals reform, including modifying the Valuation Tribunal powers to consider ratepayer appeals.
- Allow for the Valuation Office Agency to share information with local government to improve the system for both local government and ratepayers.
Melanie Leech, chief executive of the British Property Federation, commented:
“The current business rates system is out-of-touch badly needs reform if we are to create an environment in which businesses can flourish and are able to invest in our towns and cities.”
“While it is good to see that the appeals system will be scrutinised, this should not be seen as a substitute for fundamental reform that makes business rates more responsive to the wider economy. A fairer, more flexible system will in itself reduce appeals as bills return to a level that businesses across the country are able to pay.”
Comments on High Speed Rail Bill
The British Property Federation (BPF) has commented on the High Speed Rail (London-West Midlands) Bill announced in today’s Queen’s Speech, which will allow the Government to build the first phase of HS2.
Melanie Leech, chief executive of the British Property Federation, commented:
“The investment and upgrade of infrastructure is crucial to unlocking growth, and significant projects such as HS2 hold enormous potential for local areas.”
“It is now crucial that progress on delivering this infrastructure happens quickly, and we urge government to not delay proceedings that could make a real difference to growth outside London.”