The next government will be forced to make tough choices about where and how to spend scarce public sector resources. With a general election imminent, now is the time to set out what the top priorities should be.
This All Party Urban Development Group report looks at four key aspects of the urban development debate in the UK and sets out what we think should be the top priorities for the next government.
The next decade looks set to be a difficult one for the urban development sector. A weaker supply of credit to the private sector will restrict the activity of developers and severe public spending constraints will limit regeneration expenditure from the public sector. The result will be that far less money is available for development over the next ten years than has been available over the previous ten.
Faced with this reality, the next government will be forced to make tough choices about where and how to spend scarce public sector resources. With a general election imminent, now is the time to set out what the top priorities should be for the next government.
1. Focus public sector investment on the areas that need it most.
2. Localise business rates and introduce tax increment financing (TIF).
3. Limit planning reform after the first year of the next government and increase the use of planning performance agreements (PPAs).
4. Focus on increasing the housing supply and adjust stamp duty to encourage greater investment in the private rented sector.
The Centre for Cities provides research support for the All Party Urban Development Group secretariat.