On January 30, 2025, Chancellor Rachel Reeves delivered a speech that many in the industry welcomed positively. The speech was seen as a fresh start for the Government after a challenging period since the election and the Autumn Budget.
In her speech, Chancellor Reeves shared several key plans:
– Expanding Heathrow Airport with a third runway
– Developing the Oxford-Cambridge Growth Corridor
– Investing £7.9 billion to improve water infrastructure, which includes building nine new reservoirs
– Reviewing the “Green Book,” a guide for evaluating major investment projects
Muyiwa Oki, President of the Royal Institute of British Architects, expressed his support, stating that the Government’s focus on new homes and infrastructure is vital for economic growth. He emphasized the importance of creating vibrant neighborhoods with good transport, green spaces, and local centers. However, he also stressed that the quality of new developments is crucial to ensure they are sustainable and livable.
Chancellor Reeves previously reduced her involvement in the planning process during the Autumn Budget but highlighted the need for a well-functioning planning system to support growth in her recent speech.
Richard Beresford, Chief Executive of the National Federation of Builders, pointed out that the planning system often delays decisions, which can hinder investment in essential infrastructure.
Overall, the industry is eager to see more details in the upcoming Planning and Infrastructure Bill
