RICs says government plans flawed

Ahead of the pre-Budget announcement on Monday 5 December, the government’s plans for a planning gain supplement are topic of much debate, and particularly how they relate to housing supply.

The Royal Institute of Chartered Surveyors says the government’s proposals to capture uplift in land value after planning consent has been awarded are flawed.

It says the government has misunderstood how land markets operate and suggests a tariff that could be paid by landowners per unit granted would be much better.

The idea behind capturing rises in land values, especially if it is for local infrastructure to support housing development, is viable though.