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What does the General Election mean for the Property and Construction Industry


As the parties strive to outbid each other with their spending plans, we look at the policies, pledges and promises that could impact the future of property and construction.

As the parties strive to outbid each other with their spending plans, we look at the policies, pledges and promises that could impact the future of property and construction.

 

Labour

Housing Policy

  • A £75bn "housing revolution" and the "biggest council housebuilding programme in decades" - a manifesto target of 100,000 council homes a year over 5 years.

  • £1bn Fire Safety Fund to fit sprinklers and other fire safety equipment in all high-rise council and housing association blocks. And enforce the replacement of dangerous Grenfell-style cladding on all high-rise buildings.

  • Mandatory building standards and guidance, enforced by Fire and Rescue Service safety officers.

  • 50,000 "genuinely affordable" social homes per year, in partnership with housing associations.

 

Infrastructure Policy

  • Introduction of a long-term investment plan to deliver Northern Powerhouse Rail and complete HS2 in full (to Scotland).

  • £250bn of lending for enterprise, infrastructure and innovation over 10 years.

  • Renationalisation of the railways and a reduction in the cost of season tickets and other regulated fares by a third.

 

Sustainability Policy

  • Aim to deliver 90% of electricity and 50% of heat from renewables and low-carbon energy sources by 2030.
    • Including 9,000 new wind turbines;
    • Solar panels to cover 22,000 football pitches
    • New nuclear power for energy security

  • Trial and expand tidal energy

  • Investment to reduce the cost of renewable and low-carbon hydrogen production

  • Zero-carbon homes standard for all new homes

  • Eliminate fuel poverty by upgrading most of the UK's homes to the highest level of energy-efficiency by 2030

  • Launch of a Climate Apprenticeship programme to help employers to develop the skills needed to lead the world in clean technology.
    • 320,000 climate apprenticeships by the next parliament;
    • 886,000 by 2030

 

Conservatives 

Housing Policy

  • Tenants in new housing association properties will be offered the right-to-shared-ownership of their home.
  • Extend Help to Buy by two years to 2023
  • Target of 300,000 new homes a year by the mid-20s
  • Amendment of planning rules so that infrastructure like roads, schools and GP surgeries are in place before people move into new homes. This will be supported by a £10bn Single Housing Infrastructure Fund.
  • £6.3bn investment for environmental upgrades to homes, such as improving boilers and insulation.

 

Infrastructure Policy

  • Intend to invest £100bn before the next parliament, on rail, road and other infrastructure.
  • An additional £500m to be made available for Electric Vehicle (EV) charging and new EVs.
  • Rail investment to include building the Northern Powerhouse, investing in the Midlands Rail Hub and improve train lines to the South-west and East Anglia.
  • Promise to commit more than £4bn to fund public transport in the Midlands and the North.
  • Funding for cities to upgrade their bus, tram and train services.
  • £28.8bn investment in strategic and local roards, as well as £2bn to deal with potholes.

 

Sustainability Policy

  • Initiatives to achieve a net-zero target on carbon emissions by 2050.
  • Plan to priorities the environment in the next budget.
  • £9.2bn investment to make homes, schools and hospitals more energy efficient and lower energy bills.

 

Liberal Democrats 

Housing Policy

  • Direct spending on housebuilding for 300,000 home a year by 2024, including 100,000 social homes.
  • Introduction of a "Rent to Own" scheme for social housing, where rent payments increase a tenant's stake in the property, allowing them to own it in full after 30 years.
  • A "Help to Rent" scheme would provide government-backed tenancy deposit loans for first-time renters under 30.
  • £15bn investment over the next parliament, to retrofit insulation for 26million homes.
  • Allow Local Authorities to increase council tax by up to 500% for second homes and a stamp duty surcharge on these purchases from overseas residents

 

Infrastructure Policy

  • £50bn Regional Rebalancing Programme for infrastructure spend across the UK.
  • £130bn package of infrastrucure investment.
  • Delivery of HS2, Crossrail 2 and other major new strategic rail routes.

 

Sustainability Policy

  • All new homes and non-domestic buildings to be built to a zero-carbon standard by 2021. "Rising to a Passivhaus standard by 2025".
  • An emergency 10-year programme to reduce energy consumption from all UK buildings, cutting emissions and fuel bills to end fuel poverty.
  • £20bn a year for five years to tackle the climate emergency.
  • A climate action plan to reduce net greenhouse gas emissions to zero by 2045 and generate 80% of electricity from renewables by 2030.

 

What are your thoughts on the above policies, what stands out as a major factor for your business in the years to come?

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