Madeline Grant writes for CapX
The complexity of the UK planning system means that even after gaining planning permission, it can still take years to begin work on a new development, with local authority requirements often spinning out the process longer than expected. More than 70 per cent of the cost of building new houses is now the purchase of the land – all deeply exacerbated by our restrictive land use regulations. And yet the PM’s speech last week showed no signs of moderating her party’s insistence on Green Belt protection, despite the evidence that even a mild relaxation of these measures could deliver huge gains.
Read the full article here.
Further IEA Reading: The Housing Crisis: A Briefing