British Property Federation (BPF) response to King’s Speech 2024

Dominic Curran, Head of Communications, Theo Plowman, Assistant Director of Policy, and Ian Fletcher, Director of Policy at the British Property Federation (BPF) responds to the King’s Speech 2024.

Dominic Curran said:

“It’s very encouraging to see Labour’s continued focus on the built environment and the role it has to play in raising productivity levels and delivering economic growth.

“Reforming, resourcing and accelerating the planning process is an essential prerequisite to boosting housing delivery.

“However, planning for homes must always take account of employment and wider infrastructure needs for new communities, such as logistics provision and ensuring enough grid capacity for new developments.

“The property industry is a huge contributor to UK plc, accounting for 7% of GVA and one in 13 jobs.

“We want to work with the Government to build new homes, regenerate town centres and green the economy, and the Bills announced today are a good start to the new administration’s approach.”

On the Renters’ Rights Bill, Theo Plowman said:

“We are pleased to see the Government push ahead with the long-awaited Renters’ Reform; for too long the reforms have caused uncertainty for tenants and investors alike.

“The previous Renters’ (Reform) Bill in the last Parliament had achieved broad support, and key to this support was a minimum term of 6 months, a promise of court reform, and a carve out for Purpose Built Student Accommodation and the wider student sector.

“We believe that the Bill should retain these aspects and therefore the support of the industry.”

Focusing on Leasehold Reform, Ian Fletcher said:

“Leasehold Reform is a complex area of the law which requires careful consideration, and we are supportive of the Government taking time to consider the best way forward, which must be done carefully and holistically.

“That means ensuring that other flaws in the system, such as an unregulated managing agent sector, are remedied.

“Any expansion of commonhold will work best if it has the confidence of developers.

“Responsible freeholders support reforms that make leasehold work better and would welcome dialogue with the new Government on this issue.”

Kindly shared by The British Property Federation (BPF)