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<p>The Government is committed to using existing mechanisms of land value capture
as effectively as possible. We have recently introduced major reforms to the planning
rulebook to help local authorities capture land value for affordable housing, and
make sure developers know the contributions expected of them. At Autumn Budget we
also announced further reforms to improve the existing system of developer contributions.
The key objectives of these reforms are to make the system of developer contributions
more transparent and accountable. However, we recognise more needs to be done, and
will continue to explore options to go further. Through the Housing and Planning Act
2016 and Neighbourhood Planning Act 2017, the Government has taken forward wide-ranging
reforms to make the compulsory purchase process clearer, fairer and faster for all.
We are keen to let these recent reforms bed in but will continue to monitor their
practical application. We announced at Budget a £10 million fund to support local
authorities that want to establish delivery vehicles that have strong land assembly
powers, and in the Summer legislated to enable the creation of locally-accountable
New Town Development Corporations. We note the report by the APPG on land value capture,
the HCLG Select committee has also recently held an inquiry on Land Value Capture
and the Government is due to respond to the Committee’s recommendations shortly.</p>
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