400,000 home land banks to be targeted by Labour government push
A “Use it or lose it” warning by Ed Milliband will force developers to start building on land with planning permission, if he comes into power after 2015. Mr Milliband’s speach, due to be given this Thursday at Labour’s national policy forum , sets out plans to give local authorities power to serve compulsory purchase orders on developers.
Under his proposal, local authorities will be able to levy fees on land that has been approved for development, yet sit unused.
In the speach, the labour leader will point out that permissions for 400,000 homes have been granted although no work has been carried out to date.
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