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Ed Miliband issues warning to developers over 'hoarding' of land Ed Miliband issues warning to developers over 'hoarding' of land
(4 months later)
Developers holding on to land with planning permission will be warned to "use it or lose it" by Ed Miliband.Developers holding on to land with planning permission will be warned to "use it or lose it" by Ed Miliband.
The Labour leader will tell his party's national policy forum on Thursday that under a future Labour government developers who held on to land in the hope that it would increase in value could be served with compulsory purchase orders.The Labour leader will tell his party's national policy forum on Thursday that under a future Labour government developers who held on to land in the hope that it would increase in value could be served with compulsory purchase orders.
His warning is designed to show his commitment to a housebuilding programme under a Labour government.His warning is designed to show his commitment to a housebuilding programme under a Labour government.
He will point out in his speech that planning permission has been granted for 400,000 homes – equivalent to a city the size of Birmingham – which have not yet been built. In London alone 45% of land with planning permission for housing is in the hands of firms that do not build.He will point out in his speech that planning permission has been granted for 400,000 homes – equivalent to a city the size of Birmingham – which have not yet been built. In London alone 45% of land with planning permission for housing is in the hands of firms that do not build.
He will set out proposals to give councils powers to charge developers fees for unnecessarily sitting on land or, as a last resort, serve them with a compulsory purchase order.He will set out proposals to give councils powers to charge developers fees for unnecessarily sitting on land or, as a last resort, serve them with a compulsory purchase order.
Miliband will say: "Across our country there are firms sitting on land waiting for it to accumulate in value and not building on it.Miliband will say: "Across our country there are firms sitting on land waiting for it to accumulate in value and not building on it.
"Landowners with planning permission will simply not build.If there is unnecessary hoarding developers should be encouraged to do what they are in business to do – build homes.""Landowners with planning permission will simply not build.If there is unnecessary hoarding developers should be encouraged to do what they are in business to do – build homes."
Ed Balls, the shadow chancellor, recently said that if the entire infrastructure boost recommended by the International Monetary Fund was spent now, it would allow the building of around 400,000 homes across the country and support over 600,000 new jobs in construction.Ed Balls, the shadow chancellor, recently said that if the entire infrastructure boost recommended by the International Monetary Fund was spent now, it would allow the building of around 400,000 homes across the country and support over 600,000 new jobs in construction.
He said: "The average time taken to complete a private development has risen from 20 months in 2007-08 to 25 months in 2011-12. In London it is 30 months."He said: "The average time taken to complete a private development has risen from 20 months in 2007-08 to 25 months in 2011-12. In London it is 30 months."
Miliband will claim the lack of housebuilding cannot be blamed on local councils, saying the latest statistics show 82% of planning applications for major residential applications over 10 units were approved by local authorities.Miliband will claim the lack of housebuilding cannot be blamed on local councils, saying the latest statistics show 82% of planning applications for major residential applications over 10 units were approved by local authorities.
The mayor of London, Boris Johnson, has warned he might back compulsory purchase to end so-called land banking. Johnson recently told the London assembly : "It's pernicious and I would be prepared to use [compulsory purchase] powers.The mayor of London, Boris Johnson, has warned he might back compulsory purchase to end so-called land banking. Johnson recently told the London assembly : "It's pernicious and I would be prepared to use [compulsory purchase] powers.
"To constrict supply to push up prices by land banking is plainly against the economic interests of this city."To constrict supply to push up prices by land banking is plainly against the economic interests of this city.
"I'm all in favour of using the powers where there are clear cases of land-banking, where people could go ahead with developments that would be massively to the benefit of this city.""I'm all in favour of using the powers where there are clear cases of land-banking, where people could go ahead with developments that would be massively to the benefit of this city."
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