A group of MPs has targeted business rates, planning and new housing as priorities for the next government to encourage regeneration.

The All Party Urban Development Group – led by MP Clive Betts (pictured) – has today launched its 24-page report Next Steps: A Regeneration Agenda for the Next Government that sets out four priorities for the next government: focusing investment where it’s needed; introduce tax increment financing (TIF); limiting planning reform; and increasing the amount of new housing.

The report published today said:

Investment: Regeneration money should be focused on disadvantages areas that cannot attract investment without public sector support. It said most UK city centres do not need more major investment.

Introduce tax increment financing (TIF): Government should bring in tax increment financing (TIF) in its first year. It said local authorities should also get more power to set business rates.

Limit planning reform: All changes to the planning system should be made in the first year after the election and then the system should be allowed to bed down. It also said the government should increase the use of planning performance agreements (PPAs) by making sure local authorities offer them for all developments over a certain value.

Increase housing supply: The government should promote housing development by encouraging more investment in the private rented sector. It could do this by adjusting the stamp duty levied on bulk buys of homes.

Clive Betts MP, chairman of APUDG and member of the Communities and Local Government select committee, said: “By giving councils the cash created by local investment we would encourage local authorities to promote new business in their local areas. At a time when the UK is desperately in need of new jobs, business development is crucial to overcoming unemployment.

To read the full report click here: All Party Urban Development Group – 24 Feb 2010

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