When I wrote my last column, the UK was reeling from the political fallout following the EU referendum outcome. David Cameron had announced his intention to resign but it seemed at that stage that a new prime minister might not emerge for several weeks, if not months.
Few predicted how fast things would change within the government, nor how dramatically the leadership contest would unfold. Indeed, while there may be dramas still to play out within the Labour party and the devolved administrations whose citizens voted to stay in the EU, we now find ourselves in a period of relative political (or at least administrative) calm.
We are in the midst of the summer recess, which is traditionally a time for taking stock and getting the administrative house in order, before a raft of new initiatives are introduced during the party conference season. This year, of course, there are many new ministers who will be swotting up on their briefs from their sunloungers, and civil servants who will be working out the small matter of how to actually implement the referendum outcome.
It seems clear that some contentious policy proposals may be put on the back burner, but so far as the BPF is concerned, we want to see the government deliver on its commitment to “business as usual” on a range of key agenda items for the property industry.
First, the regulations for the Neighbourhood Planning and Infrastructure Bill must be laid. Not only does this bill contain a number of provisions that are likely to benefit the industry, such as increased CPO powers and strengthening of neighbourhood planning, but it places a strong emphasis on the importance of infrastructure. A drive towards ambitious infrastructure projects is critical to maintaining investor confidence in the UK.
Starter home regulations must follow soon after. The government’s target of delivering 200,000 starter homes by 2020 is looking less and less likely, and is leaving some to wonder whether the requirement will apply retrospectively to applications. We seek further clarity over whether the exemption from the requirement for build-to-rent will be taken forward.
Detail on when and how the BEPS and corporation tax loss reforms will be brought in is of critical importance for commercial property investors. We would like to see the deferral of the rules from 2017 to 2018, and want to ensure that our industry is not damaged accidentally by measures targeted elsewhere.
We want to see an early consultation on business energy tax reform.
And we are looking forward to the recommendations of the Community Infrastructure Levy group and to see whether those made by the Local Plan Expert group will be adopted.
The BPF is meeting new faces within government and continuing to champion our industry, the stake it has in the country’s economy, and the success of its towns, cities and communities. It is now up to government to not just promise to carry on with “business as usual”, but to actually do it.
Melanie Leech is chief executive of the British Property Federation
