In brief, Rachel Reeves gives first speech as Chancellor
In her first speech as Chancellor, Rachel Reeves pledged to leaders of some of the UK’s pioneering industries to build growth on strong and secure foundations built on stability, investment and reform, and forged through a new partnership with the private sector.
The speech included note that the government is taking swift action to identify and unblock key ‘stalled sites’ to get large housing schemes moving forward, starting with four sites across England to unlock over 14,000 homes: Liverpool Central Docks, Northstowe, Worcester Parkway and Langley Sutton Coldfield.
The Deputy Prime Minister has committed to make the economic benefit of development a central consideration when intervening in the planning system. This approach will starts immediately through the recovery of two appealed planning applications for data centres in Buckinghamshire and Hertfordshire. The Deputy Prime Minister will write to local mayors and the Office for Investment to ensure that any investment opportunity with important planning considerations is brought to their attention, aiming to unlock major schemes from clean energy projects and transport infrastructure to film studios and art-entertainment venues.
The Chancellor has also confirmed that the government will support local authorities with 300 additional planning officers across the country. Further announcements to accelerate the development of housing and infrastructure are due but likely to include launching a landmark consultation on an updated, growth-focused National Planning Policy Framework to include mandatory housing targets and a requirement to review greenbelt boundaries where necessary to meet them.
These will prioritise Brownfield and “grey belt” land for development to meet housing targets where needed, partnered with new ‘golden rules’ that will make sure the development this frees up will also deliver thousands of affordable homes, including more for social rent.
Chancellor of the Exchequer Rachel Reeves said:
"Today I am taking immediate action to fix Britain’s economic foundations. By growing our economy we can rebuild Britain and make every part of the country better off."
Deputy Prime Minister Angela Rayner said:
"Our country is under new management and a new era for economic growth will be built on secure foundations. The Chancellor and I will work in lockstep to kickstart the economy, unleashing housebuilding and powering local growth. Change starts now. We will unblock the bottlenecks and drive forward a transformational package to build the homes people need."
Energy Security and Net Zero Secretary Ed Miliband said:
"Every family has paid the price of the ban on onshore wind farms in higher energy bills. This ban has undermined our energy security, put costs on people’s bills – especially those on lower incomes – and held us back in our fight against climate change. This Government is wasting no time in delivering the bold plan we need to take back control of our energy; boosting our energy independence and cutting bills for families as we tackle the climate crisis.
"Getting rid of this ban and giving priority for planning permission for much needed infrastructure sends an immediate signal to investors here and around the world that the UK is back in business, an immediate step in our mission to make Britain a clean energy superpower."
This article is based on information published on the Gov.uk news story "Chancellor unveils a new era for economic growth" dated July 8, 2024.
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