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What impact each party’s commitments will have on building the UK

What impact each party’s commitments will have on building the UK
What impact each party’s commitments will have on building the UK

 


Wondering what the Conservatives, Labor and Liberal Democrats have to say on the subject of construction in their manifestos? PBC's roundup of the day provides details on the 2024 election pledges.

With less than a month left until polling day, each major political party has now released its manifesto for the 2024 elections.

After 14 years, five prime ministers, two recessions, and one Brexit, many are predicting the destruction of the Conservative Party. Electoral calculus predicts that the Conservatives could lose nearly 300 seats, while Labor could win a landslide victory bigger than the 1997 election result when Tony Blair was in power. [as of 13 June 2024].

But what does this mean for British construction? On housing: Conservatives' next parliament to build 1.6 million homes in England New and improved Help to Buy plan Tenancy reform legislation for both landlords and renters (court reforms promise to abolish Section 21 evictions) Quickly scrap residential development in brownfields in cities Make the nutrition-neutral 2022 stamp duty standard permanent Labor Deliver 1.5 million new homes in England over the next five years Immediately update the National Policy Planning Framework to restore mandatory housing targets Faster approval for urban brownfield sites and lower quality greys. Product launch priorities Beltland “Implement solutions” for homes affected by nutrition neutrality without undermining environmental protection Introduce a permanent and comprehensive mortgage guarantee scheme for first-time buyers Immediate abolition of Section 21 no-fault evictions Liberal Democrats New homes per year across the UK Increase construction to 380,000 homes, including 150,000 social homes per year Abolish residential renting and limit land rents to a small fee Ban no-fault evictions immediately, make three-year tenancies the default and create a national register of licensed landlords Refusing to build Permissions for developers are planned. Gives local authorities the power to terminate Green Party purchasing rights. 150,000 new social homes could be purchased each year. End the individual right to purchase to permanently maintain social housing for the community. Introducing rent control, a new stable, ending leasehold tenancies and no-fault evictions, introducing the right for tenants to require energy efficiency improvements, ensuring all new homes meet Passivhausor equivalent standards and requiring housebuilders to install solar panels and solar panels on all new homes where appropriate. Includes heat pump. Infrastructure Conservatives invest 8.3 $1 billion to fill potholes and resurface roads A further $12 billion to build the Northern Powerhouse rail line between Liverpool and Manchester Labor Merge NIC and IPA into a single infrastructure agency, Nista Improve rail connectivity in the North of England Fixing 5 million potholes in the next year by making improvements Equipping communities for five years and extreme weather Bringing railways into public ownership Lib Dems Rolling out electric vehicles and increasing support Empowering local authorities to upgrade local infrastructure Delegating powers to grant Greens call for all new development to be accompanied by necessary additional investment Local health, transport and other services Energy: Conservatives aim to achieve net zero by 2050 Round of annual licenses for oil and gas production in the North Sea Small modular reactors Expanding the scale of nuclear power through two new fleets and the establishment of Great British Nuclear. Invest $1.1 billion Accelerate green industry growth Sustain the workforce by engaging in a fracking moratorium Reach clean energy, achieve net zero by 2030 Complete Hinkley Point C and increase rollout of small modular reactors (SMRs) Although fracking will be banned and no new coal licenses will be issued Oil and gas operations in the North Sea will continue. Investment of around $5 billion in gigafactories, carbon capture and green hydrogen 6.6 billion Warm Homes Plan would help install energy efficiency upgrades to 5 million homes to save costs Liberal Democrats A Heating homes warmer and cheaper and making all new homes more affordable 10-year emergency upgrade program to ensure the UK is net zero Invest in renewable energy to ensure 90% of the UK's electricity comes from renewables by 2030 Upgrade the National Grid to match growth Energy demand Greens Phase out nuclear energy and halting all new fossil fuel extraction projects in the UK, with fossil fuel licenses such as Rosebank recently being revoked. All oil and gas subsidies will be eliminated. Extract all fossil fuel imports and introduce a carbon tax domestically Power about 70% of UK electricity from wind by 2030 Invest in energy storage capacity and more efficient power distribution Economy: Conservatives pledge to cut taxes by $17.2 billion by 2030 Next parliament does not completely abolish the basic rate of National Insurance; raises corporation tax; prepares a business tax support package worth 4.3 billion over the next five years to support small and medium-sized enterprises; raises labor taxes by 8.5 billion a year; cracks down on evasion by 2028/29; “secure economics”; Understanding Financial Approaches”Sustainable growth depends on broad bases and resilient foundations.” 7.3 billion sovereign wealth fund, Liberal Democrats aim to attract “£3 of private investment for every £1 of public investment” in growth and clean energy sectors Protect the independence of banks, keep the UK in line with its 2% inflation target and cancel the Conservatives’ tax cuts for big banks. and impose a one-time windfall tax on excess profits of oil and gas producers and traders. Increase in tax-exempt personal allowances Green Party invests KRW 40 billion annually to transition to a green economy in the next National Assembly

Read more about the general election here and the individual manifestos below.

Sources

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2/ https://www.pbctoday.co.uk/news/planning-construction-news/general-election-2024-what-each-party-promise-means-for-uk-construction/140517/

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