Four-point plan to get Britain building will change the way vital infrastructure projects are planned, determined and funded.
First, planning rules on brownfield sites are being removed to free up land for development, the housing budget directed towards new ‘low cost homes for sale’ for first-time buyers and housing association tenants given the right-to-buy to increase home ownership and construction. Second, the existing 89 Local Authority pension funds will be pooled into half a dozen British Wealth Funds, each with assets of over £25 billion. This step will save millions of pounds every year in costs and fees. The new funds will develop the expertise to invest in infrastructure. Third, the government will bring forward sales of land, buildings and other assets the government bought or built, raising up to £5 billion over the course of this Parliament. The funds from these sales will be recycled to help fund new infrastructure projects. Fourth, a new independent National Infrastructure Commission (NIC) is being created today (5 October 2015). It will be charged with offering unbiased analysis...