On The Tools Discusses Chancellor's Bold Housebuilding Promise

Rachel Reeves announces the return of compulsory housebuilding targets, aiming to build 1.5 million homes in five years, alongside planning reforms to unlock private sector investment and boost the economy.

CEO and Co-founder of On The Tools, Lee Wilcox, comments:

Labour’s Plan to Build 1.5 Million Homes

In her first major address as Chancellor, Rachel Reeves unveiled a sweeping agenda aimed at transforming the UK’s housing landscape. Central to her plan is the reinstatement of compulsory housebuilding targets, a move designed to stimulate construction and meet the ambitious goal of building 1.5 million new homes in England over the next five years. This initiative marks a significant shift from previous Conservative policies and promises to revitalise the UK construction sector.

Planning Reforms to Boost Construction

Reeves highlighted the urgency of reforming the national planning policy framework to support infrastructure development and unlock private-sector investments:

“We can’t build overnight, but that’s why we have set out today the initial steps that we are going to take to unlock private sector investments to build those homes.” 

By prioritising brownfield and “grey belt” land, the Labour government aims to expedite the construction process while preserving greenbelt areas .

Tackling the Housing Crisis

The Chancellor’s speech was clear on the need for immediate action to address the housing crisis:

“We have got to ensure that families can get on the housing ladder.”

The return of mandatory housing targets, abolished under the previous government, is seen as a crucial step towards achieving this goal. These targets will compel local authorities to meet specific housing quotas, ensuring a steady supply of new homes.

Unlocking Land for Development

A key component of Reeves’ strategy involves a thorough review of greenbelt boundaries to identify and prioritise the development of brownfield and neglected “grey belt” land. This approach aims to balance the need for new housing with environmental considerations, making use of previously developed or low-quality land for new construction.

Energy and Infrastructure Overhaul

Reeves’ plans extend beyond housing to encompass broader infrastructure and energy reforms. Notably, the Chancellor announced the lifting of the de facto ban on onshore wind developments, which had been in place since 2015. This change is expected to facilitate the construction of hundreds of new wind turbines, contributing to the UK’s renewable energy capacity.

CEO and Co-founder of On The Tools, Lee Wilcox, said:

“It is encouraging to see construction taking centre stage in Rachel Reeves’ first speech as Chancellor. Her plans to bring back compulsory housebuilding targets and prioritise brownfield development are undoubtedly positive steps for our industry.

On The Tools is connecting construction to improve the lives of UK tradespeople, so we are motivated by the potential these plans have to create more job opportunities and boost growth. We look forward to seeing them put into action and the benefits they will bring to the sector.”

Source : On The Tools

Image : Duncan_Andison / istock / 1006508302

For all the very latest news and intelligence on the largest UK home improvement and garden retailers, sign up for the Insight DIY newsletter.