The next UK government should put London’s property sector at the heart of a renewed drive for national growth with reforms to the planning system, encouragement for new developments aiding the transition to net zero, incentives to attract long-term investment and support for London’s status a global city, according to a manifesto from the London Property Alliance (LPA).
The LPA, which brings together the memberships of the Westminster and City property associations, between them representing many of the biggest developers and other real estate-related companies in the capital, argues in its ten-page document for policies to “grow the economic and social prosperity of London’s Central Activities Zone (CAZ) in the interests of the capital and the country”.
Specific growth measures called for include updating the National Planning Policy Framework so it provides local authorities and communities with the tools they need to assess the economic, environmental and social goals of development, “practical planning guidance” for balancing the conservation of historic buildings and other assets with their decarbonisation, and speeding up the planning process at both local authority and national government levels.
Pointing out that the CAZ produces “more than 10 per cent of the UK’s economic output” the manifesto argues that London government needs more devolved powers to retain and make use of taxes generated in the capital, notably Business Rates (which it says are in need of “serious review”), and urges that the “compelling case” for the devolution of all property taxes made by the London Finance Commission under both Boris Johnson then he was Mayor of London and, subsequently, Sadiq Khan should be heeded. In line with other London business bodies, it also asks for “much greater flexibility” in the apprenticeship levy system and employment policies to help the construction business.
Net zero can be facilitated by encouraging higher city centre densities complete more public transport, changing building regulations to enable “whole-life carbon emissions” of buildings to be measured with consistency, according to the LPA, which describes central London as “the most sustainable location to increase employment and economic growth in the country”.
The fourth and final section of the 10-page document repeats requests from others, including the Mayor, for progress with major transport infrastructure projects including extending the Bakerloo line, a “lasting solution” for HS2 which it describes as having become “a local and national embarrassment”, and a “long-term, sustainable funding plan for Transport for London”, described in the manifesto as having been “sent from pillar to post since the start of the pandemic”.
These steps would be among those needed to strengthen London’s “global status” says the LPA, along with reintroducing tax-free shopping for foreign visitors and improving access to European markets for central London’s financial and professional service businesses. Read the manifesto in full here.
OnLondon.co.uk provides unique coverage of the capital’s politics, development and culture. Support it for just £5 a month or £50 a year and get things for your money too. Details HERE. Threads: DaveHillOnLondon. X/Twitter: On London and Dave Hill. Image from LPA manifesto.