BPF welcomes Government response to MHCLG Select Committee Land Value Capture recommendations
The Government has responded to the Ministry of Housing, Communities and Local Government Select Committee inquiry on land value capture:
Ian Fletcher, Director of Real Estate Policy, British Property Federation comments:
“We welcome the Government’s response to the Housing, Communities and Local Government Select Committee inquiry on land value capture (LVC). We agree that this Select Committee’s recommendations risk undermining much-needed development and housing supply. At a time when the UK must be building more homes, finding land is critical to success, and if landowners don’t get the uplift in value from change of use, fewer landowners will come forward with land. This will exacerbate the housing crisis.
“The Government’s priority is delivery and to provide more high-quality homes and communities, more quickly. So, it is right that the Government focuses on improving the existing system of developer contributions to make them more transparent, efficient and accountable.
“Our sector is committed to investment into the communities it serves, as evidenced by the £6 billion it contributes to community infrastructure each year and £600 million contributed to the cost of Crossrail.”
Kindly shared by British Property Federation (BPF)
