Reeves to announce housebuilding targets

by | Jul 8, 2024 | Politics

Rachel Reeves will promise to make kickstarting economic growth a “national mission”, in her first speech as chancellor.Speaking to business leaders at the Treasury later, Ms Reeves will set out Labour’s plan for the economy and say the era of “chaos and irresponsibility is over”.She is also expected to announce she will bring back compulsory housebuilding targets, as part of an overhaul of Britain’s planning rules.And she will say that with political turmoil in the France and the US, Britain is now back as one of the most stable places for international investment.Former Bank of England economist Ms Reeves was appointed chancellor on Friday, after Labour’s landslide election win.She and her team worked through the weekend on this speech to business leaders and investors who have stalled investment in Britain in recent years amid the political chaos of the post-Brexit years and the Liz Truss mini-budget.Ms Reeves is expected to announce some immediate loosening of planning red tape that has held back construction, infrastructure, and the energy grid.It will be done in the hope that investors will unleash tens of billions of pounds of investment in green industry and housebuilding.Mandatory housebuilding targets are also expected to return. The Labour manifesto already promised development on so-called “grey belt” land – which are poor-quality areas in the green belt.A moratorium on onshore wind power is expected to be lifted, and there will be extra funds for hundreds of new planning officers.She told the BBC on Friday that she was “willing to have a fight” with those …

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[mwai_chat context=”Let’s have a discussion about this article:nnRachel Reeves will promise to make kickstarting economic growth a “national mission”, in her first speech as chancellor.Speaking to business leaders at the Treasury later, Ms Reeves will set out Labour’s plan for the economy and say the era of “chaos and irresponsibility is over”.She is also expected to announce she will bring back compulsory housebuilding targets, as part of an overhaul of Britain’s planning rules.And she will say that with political turmoil in the France and the US, Britain is now back as one of the most stable places for international investment.Former Bank of England economist Ms Reeves was appointed chancellor on Friday, after Labour’s landslide election win.She and her team worked through the weekend on this speech to business leaders and investors who have stalled investment in Britain in recent years amid the political chaos of the post-Brexit years and the Liz Truss mini-budget.Ms Reeves is expected to announce some immediate loosening of planning red tape that has held back construction, infrastructure, and the energy grid.It will be done in the hope that investors will unleash tens of billions of pounds of investment in green industry and housebuilding.Mandatory housebuilding targets are also expected to return. The Labour manifesto already promised development on so-called “grey belt” land – which are poor-quality areas in the green belt.A moratorium on onshore wind power is expected to be lifted, and there will be extra funds for hundreds of new planning officers.She told the BBC on Friday that she was “willing to have a fight” with those …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]
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