Keir Starmer’s Labour party will restore mandatory housing targets, newly installed chancellor Rachel Reeves has stated in her debut speech.
Reeves, who became the UK’s first female chancellor following Labour’s sweeping victory over the Conservatives, said Labour will launch a task force "to accelerate stalled housing sites in our country".
She reiterated Labour’s manifesto pledge of building 1.5 million new homes over the next five years.
Former prime minister Rishi Sunak scrapped plans for compulsory housebuilding targets in 2022 following a Tory backbench rebellion.
That move had been labelled as “extremely damaging” by the Home Builders Federation.
"It'll be up to local communities to decide where the housing is built, but it has to be built,” Reeves today stated, as she visited a building site run by FTSE 100 housebuilder Berkeley Group (LSE:BKG).
Brownfield and ‘grey belt’ land will be flagged for development. Labour classifies grey belt land as “poor-quality scrubland, mothballed on the outskirts of town”.
Reeves also said Labour will scrap the “absurd” ban on new onshore wind farms in England.
David Thomas, chief executive at Barratt Developments PLC (LSE:BDEV), said: "We welcome the government’s commitment to reform of the planning system and their drive for growth.
"Building more new homes will bring huge economic and social benefits to the UK, and it is vital that local and central government are united with industry to plan positively to deliver high quality new homes and developments across the country."
This is from Melanie Leech, chief executive at the British Property Federation, said: "It’s very positive to see the new government hit the ground running on planning reform.
"Housebuilding targets are a clear statement of intent and will help accelerate delivery. We need to build more homes of all tenure and type and so we urge the government to also consider bold targets for build-to-rent and affordable housing specifically. Housebuilding targets need to be supported with extra capacity in the planning system, so it’s good to see Labour also restate their commitment to get more planners in."