Labour plans to scrap hope values for housing CPOs

Labour wants to force landowners to sell plots at agricultural values to boost housebuilding. Shadow levelling-up secretary Lisa Nandy is understood to be drawing up plans that would change how land is valued when acquired through compulsory purchase orders (CPOs). Under the proposals, a future Labour government would introduce legislation allowing local authorities to buy land at a price that does not reflect the value of potential planning permissions. This would overwrite the 1961 Land Compensation Act, which prevents councils from buying plots for development at their agricultural value. Analysis by the Centre for Progressive Policy think tank found that land worth £22,520 per hectare as agricultural land could be worth £6.2m per hectare with permission: 275 times more. Labour’s proposal goes beyond the government’s own plans, which would allow ministers to ignore hope values in exceptional circumstances. The FT (£)The Times (£)