In her first speech since being appointed Chancellor of the Exchequer, Rachel Reeves has outlined how growth will be achieved around the country through a raft of new measures.
Appointed on Friday following the Labour Party’s election win, Reeves has become the UK’s first female chancellor, and has set out a number of measures today that include the cutting of red tape when it comes to planning.
Beginning her speech, the Chancellor said:
“Growth requires hard choices. Choices that previous governments have shied away from. And it now falls to this new Labour government it fix the foundations.
“There is no time to waste. We have promised a new approach to growth – one fit for a changed world. That approach will rest on three pillars: Stability, investment, and reform.”
As outlined in the Labour Party manifesto ahead of the general election, Reeves has committed to the government delivering one and a half million new homes over the course of the next five years, thanks to a restoration of mandatory of housebuilding targets. This number will include affordable and council homes, however the Chancellor did not specify how many of each will come as part of the one and half million. To support the delivery of the new homes, it was also announced that brownfield and greybelt land will be prioritised for development.
Housing sites that have stalled are also be accelerated through the creation of a new task force, with his process beginning for 14,000 new homes in areas including Liverpool Central Docks, Worcester, Northstowe, and Langley Sutton Coldfield.
Local authorities will be supported when it comes to planning, as a further 300 planning officers will be committed around the country. Alongside this, projects that will support the economy but have seen their planning applications declined will be reviewed – this work has already begun for the planning appeals for data centres in Buckinghamshire and Hertfordshire.
Touching on remaining committed to manifesto promises, the Chancellor added:
“We’re not in the business of reneging on our manifesto commitments.
“We received that strong mandate. We’re going to deliver on that mandate.”
Further planning policy will be developed for critical infrastructure over the course of the coming months, whilst work to drive clean energy development has been accelerated as the ban on onshore wind farms is lifted.
Image credit: iStock
