On behalf of CPA and WPA members, London Property Alliance has submitted its representations to Chancellor of the Exchequer, Rt. Hon. Rachel Reeves MP, ahead of the Autumn Budget on 26 November.
In the submission, the Alliance calls for HM Treasury to include measures that will harness London’s global strengths – advancing the Government’s growth ambitions and boosting prosperity nationwide. Our key asks include:
- Unleash London’s growth potential as a leading, global city: Work with the Ministry of Housing, Communities and Local Government to reduce the planning constraints and cost burdens that currently inhibit development.
- Fair funding for London’s local government and its planning services: Urgently review the Fair Funding formula to reflect London’s needs, and ring-fence funding for local planning services to attract and retain skilled staff.
- Business rates reform to support London’s high streets: Reconsider the proposed higher multiplier for properties, many of which are in central London.
- Invest in transport infrastructure to unlock housing growth: Approve and release funding for the Bakerloo line and DLR extension.
