Source · Select Committees · Housing, Communities and Local Government Committee
Recommendation 19
19
Acknowledged
New Towns programme requires billions in investment without clear funding sources.
Conclusion
The Government’s New Towns programme is likely to require billions of pounds of public and private investment over several decades, including millions from HM Treasury to establish development corporations during this Parliament. The Government has not yet set out where this funding will 65 come from. It is likely that many of the locations where new settlements are planned will require significant upfront infrastructure investment to support new communities. (Conclusion, Paragraph 102)
Government Response Summary
The government is considering the Taskforce's recommendations on land purchases to secure land value capture and will clarify its position in a forthcoming consultation, but commits to no specific action.
Government Response
Acknowledged
HM Government
Acknowledged
19. The Government is aware of the potential for securing the land value uplift created by the New Towns Programme, and on 28 September this year, the Government published the New Towns Taskforce report as well as its initial response. New Towns have an important role to play in the delivery of much needed quality and genuinely affordable housing. The Government is considering the recommendations of the New Town Taskforce report on the use of early land purchases to secure land value capture; and where this approach is suitable it could form a part of new town delivery strategies. To ensure the right incentives are in place to support LPAs in bringing new towns forward, the Government is working closely with local leaders to understand the impacts of potential New Towns locations on how new towns are accommodated in areas’ Local Housing Needs, and will shortly clarify its position as part of the forthcoming New Towns Programme consultation.