Osborne’s development announcement is feeble

The IEA respond to George Osborne's expected remarks in his Mansion House speech

Commenting on expectations that George Osborne will outline plans to encourage housing development in his Mansion House speech, Mark Littlewood, Director General of the Institute of Economic Affairs said:

“George Osborne’s plans to make development on derelict land easier are a wholly inadequate attempt to improve the deteriorating affordability of the UK housing market. 
 
“Less than a third of brownfield areas are in regions where housing demand is highest, namely London and the South East. These proposals show that politicians continue to turn a blind eye to mounting evidence that inflexible planning restrictions on greenfield and green belt sites in these areas are a key driver of house price rises.
 
“While these small steps will help at the margin in addressing a severe shortage of housing, radical reform of the planning system is required if the government are to ease spiralling house prices. This will require substantial development of both brownfield and greenfield sites”.
 
To arrange an interview please contact Camilla Goodwin, Communications Officer: 0207 799 8920/ 07821 971 443

Notes to editors:

The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
 
The IEA is a registered educational charity and independent of all political parties.

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