{"id":42609,"date":"2018-06-18T10:53:44","date_gmt":"2018-06-18T09:53:44","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=42609"},"modified":"2018-06-20T09:51:36","modified_gmt":"2018-06-20T08:51:36","slug":"property-sales-levy-could-raise-62bn","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/property-sales-levy-could-raise-62bn\/42609\/","title":{"rendered":"Property sales levy could raise \u00a362bn for housing &#038; infrastructure"},"content":{"rendered":"<h2>A levy on the sale of property, mirrored on a scheme currently in place in New York, US, could raise as much as \u00a362bn in long-term bonds in England, according to the\u00a0<a href=\"https:\/\/www.acenet.co.uk\/home\/592\">Association for Consultancy and Engineering (ACE)\u00a0<\/a><\/h2>\n<p>The proposed levy would charge a 1% tax on the sale or transfer of property worth \u00a3350,000 or less and 1.425% if worth more. ACE estimates that this could raise \u00a32.16bn if applied in England alone. Transferred to local authorities, this could be worth \u00a362bn in long-term bonds\u00a0\u2013\u00a0double the current budget of the\u00a0Crossrail,\u00a0Crossrail 2\u00a0and\u00a0<a href=\"https:\/\/www.pbctoday.co.uk\/news\/bim-news\/hs2-awarded-first-breeam-infrastructure-certificate\/38434\/\">HS2\u00a0projects<\/a> combined.<\/p>\n<p>The proposal forms part of the recommendations of ACE\u2019s new major research report,\u00a0<em>Unlocking Housing: Invigorating local communities through placemaking<\/em>, which argues that only a radical change in approach will ensure we\u2019re able to tackle the housing crisis.<\/p>\n<p>Commenting on the proposal for a property sales levy, ACE chief executive\u00a0Dr Nelson Ogunshakin OBE\u00a0said: \u201cOur proposals are mirrored on a proven model and would enable local authorities around the country to share in the gains of the property market and receive the vital funds they need to kick-start a <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/can-offsite-construction-solutions-kick-start-a-housing-revolution\/35443\/\">housing revolution<\/a> and invest in its supporting infrastructure, so all can benefit.<\/p>\n<p>\u201cIn our view, local authorities are best placed to <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/addressing-the-housing-crisis-through-creative-reforms\/39567\/\">tackle the housing crisis<\/a> and a property sales levy would ensure they have the tools at their disposal to do so.\u00a0 For too long we have skirted around the issue\u00a0\u2013\u00a0we need to find new ways to fund the homes the country desperately needs.\u201d<\/p>\n<h3>The <em>Unlocking Housing<\/em> report also suggests:<\/h3>\n<ul>\n<li>Putting placemaking principles at the heart of <a href=\"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/study-reveals-the-places-to-gain-planning-permission\/40355\/\">local authority planning<\/a><\/li>\n<li>Ensuring meaningful engagement with local communities on development proposals and their impacts<\/li>\n<li>That new home design should reflect the desired \u2018look and feel\u2019 of a community<\/li>\n<li>Promoting local authority owned development companies to \u2018lead by example\u2019.<\/li>\n<\/ul>\n<p>Nelson Ogunshakin added: \u201cOf course, finding more money is a key factor in solving the housing crisis, but we also believe that it needs to be spent in the right way. Our recommendations to implement placemaking principles into development, for meaningful engagement with local communities, and for investment in supporting health, education and transport infrastructure, would ensure a holistic approach to tackling what is surely the biggest issue facing our society today.\u201d<\/p>\n<p>To help take these proposals to the next stage, ACE is supporting the establishment of a new\u00a0All Party Parliamentary Group\u00a0on Building Communities. The group will promote ideas around placemaking to the heart of politics and encourage a public debate on the human dimension of infrastructure investment and building the homes the country needs. MPs and Lords who have already expressed an interest in the group\u2019s establishment include:\u00a0Bob Blackman MP,\u00a0Sir Graham Brady MP, Baroness Brown DBE,\u00a0Baroness Chalker,\u00a0Stephen Hammond MP,\u00a0Mark\u00a0Prisk\u00a0MP,\u00a0Lord Shipley OBE, and\u00a0Matt Western MP.<\/p>\n<p>Unlocking Housing\u00a0was created with the input of the members of ACE\u2019s property group. Group members include:\u00a0<a href=\"https:\/\/www.aecom.com\/\">AECOM<\/a>,\u00a0<a href=\"https:\/\/www.arcadis.com\/en\/global\/\">Arcadis<\/a>,\u00a0<a href=\"https:\/\/www.bwbconsulting.com\/\">BWB Consulting<\/a>,\u00a0<a href=\"http:\/\/www.clancy.co.uk\/\">Clancy Consulting<\/a>,\u00a0<a href=\"https:\/\/hoarelea.com\/\">Hoare Lea<\/a>,\u00a0<a href=\"https:\/\/www.hurleypalmerflatt.com\/\">Hurley Palmer Flatt<\/a>,\u00a0<a href=\"https:\/\/www.watermangroup.com\/\">Waterman<\/a>,\u00a0<a href=\"https:\/\/www.wsp.com\/en-GL\">WSP\u00a0<\/a>and\u00a0<a href=\"https:\/\/www.wyg.com\/\">WYG<\/a>.<\/p>\n<p>You can download the Unlocking Housing <a href=\"https:\/\/drive.google.com\/open?id=19A9DuvzCXM4vAHX2TX43z6m5TgpT3hij\">report here<\/a>.<\/p>\n<div class=\"mk-custom-module-container\">\n<\/div>","protected":false},"excerpt":{"rendered":"<p>A levy on the sale of property, mirrored on a scheme currently in place in New York, US, could raise as much as \u00a362bn in long-term bonds in England<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[283,571,656,579,642,747],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-42609","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-finance","8":"tag-housing-crisis","9":"tag-housing","10":"tag-infrastructure","11":"tag-placemaking","12":"tag-property"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v26.9) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Property sales levy could raise \u00a362bn for housing &amp; 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