Revo responds to Corbyn Keynote at Labour Party Conference 2017.28 September 2017
Matthew Ogg, Revo Policy Advisor, said:
Listening to Jeremy Corbyn, one could have been convinced that regeneration is a dirty word, after his keynote speech in Brighton today. However, retail-led regeneration plays a vital role breathing new life into our towns and cities creating new jobs and opportunities whilst good development fosters community, creates safer places and enhances our public realm.
Investing in retail-led placemaking should be higher on the political agenda and we look forward to discussing these issues with the Labour Party.
We welcome a common sense approach in regards transition for EU withdrawal and conversations around the future movement of goods and skills. But the trading environment remains challenging and it is important that the Labour party listens to the concerns of the retail property industry in upcoming negotiations.
Businesses will also look with some concern regarding future tax rises under a Labour administration when they are already trading in a difficult economic environment and overburdened with the cost of a broken business rates regime and escalating property taxes. We look forward to working with the Labour Party on its proposals and on the challenges facing our industry in a global economy.
On Compulsory Purchase Orders:
Jeremy Corbyn reiterated the ‘use it or lose it’ mantra in regards private land held by developers where CPO could be invoked if no development is forthcoming. In some instances, this has the potential to be a positive development to unlocking investment but a balance must be struck – how aggressively could CPO be used? What value would be attributed to the land in question? Investors and developers will no doubt eagerly await the details of these new policy announcements.