Upcoming Events :
Housing Seminar: Partnerships with the Public Sector – Avoiding the pitfalls
Thu 31 May 2012
Minerva House, 5 Montague Close, London, SE1 9BB
Labour pledges to cut regeneration spending
Mon 12 Apr 2010
Regeneration spending looks set to be reduced if Labour wins the upcoming general election.
The party today unveiled its manifesto, which outlines its policies for the next parliament should it win at the polls on May 6th.
This includes a commitment to "make savings" in regeneration funding as part of a wider efficiency drive.
Energy and climate change secretary Ed Miliband acknowledged that regeneration spending is very important.
However, he told BBC Radio 4's Today programme that it is not the biggest priority for the government over the next few years.
Mr Miliband added that key public services would be protected from spending cuts during the next parliament, including schools, the NHS and the police.
The British Property Federation has criticised the move, as it comes alongside a pledge to create 50,000 new affordable homes.
According to the organisation, this does not create confidence in how these new homes will be delivered.
Roger Fitton, a partner at Winckworth Sherwood Solicitors, added: "Many development schemes will cease to be viable without grants from the HCA and other public sector sources."
