Sector - Housing
Housing developers must reveal cash benefits due to new planning rules
Housing developers must reveal how every pound, which is levied on new buildings, is spent supporting the new homes, thanks to new rules which came into force at the beginning of the month.
Local infrastructure such as roads, schools, GP surgeries and is already paid for by housing developers expanding communities, with some £6Bn in 2016 to 2017 invested to help create jobs and growth.
However, councils were not required to report on the total amount of funding received – or how it was spent – leaving local residents in the dark.
The new rules mean councils will be legally required to publish vital deals done with housing developers so residents can see exactly how money will be spent investing in the future of their community.
Housing Minister Rt Hon Esther McVey MP said: “The new rules coming into force today will allow residents to know how developers are contributing to the local community when they build new homes – whether that’s contributing to building a brand-new school, roads or a doctor’s surgery that the area needs.”
The reformed Community Infrastructure Levy (CIL) rules will help developers get shovels in the ground more quickly, with the rules giving greater confidence to communities about the benefits new housing can bring to their area.
The new planning rules come as part of the government’s ambition to deliver one million homes.
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