Revo launches ‘placemaking’ manifesto

Revo has launched a manifesto for “retail property and placemaking” ahead of the General Election. Improvements to business rates, planning, housing and infrastructure policy are all highlighted in the Creating Place document sent to political parties today. Retail property is the largest asset class in commercial property, valued at £360bn, according to Revo. The sector generates around £20bn in annual taxes and contributes 5% of the UK’s total gross value added. Business rates is at the top of the list of recommended policy reforms, with Revo advocating a model similar to corporation tax by creating an internationally competitive rate that can be adjusted to reflect changing economic conditions. Revo policy adviser Matt Ogg said: “It looked like the present government had established its position [on business rates] but as with all things the election is an opportunity to revisit, to think about things more holistically.” He added: “We believe we are a big stakeholder in the economy, and we hope that the government recognises that such industries as ours have a positive role to play and we underpin much growth in other areas of the economy.” Creating place: A retail property and placemaking manifesto for General Election 2017  Business rates ■ Fundamental reform of the system, taking the same approach as corporation tax by creating an internationally competitive rate that can be adjusted to reflect changing economic conditions. ■ Government should move forward the timetable in linking the multiplier to CPI indexation to before 2020 ■ Policies which better incentivise businesses that invest and improve their properties, rather than penalise them through rising rates bills Planning ■ Further simplify the planning system so that it acts as an enabler of retail investment, in an increasingly dynamic and evolving retail sector. A speedier and better resourced planning system can assist in driving productivity in all sectors one way or another. ■ Prioritise simplification in relation to changing use, revising out of date and overly restrictive local frontage policies which no longer reflect growing mixed use schemes and consumer habits. Devolution ■ Revo supports the devolution of power and local enfranchisement but institutional weaknesses in resourcing and expertise at the local level must be addressed or reinforced by central support as authorities begin to wield greater power over their budgets. Local authorities must work to a published strategic vision for the region. Housing ■ The housing crisis cannot be solved in isolation from wider development; joined up thinking is required to create sustainable places and communities where people want to live, work and play. ■ Government should consider classifying residential as a main town centre use and give local authorities the tools to create holistic local plans which are fit for our evolving urban landscape. Infrastructure ■ Local authorities need to consider critical and national infrastructure within their local plans, and how they join with their own plans to existing and proposed national infrastructure ■ Government should work with industry across a new build, maintenance and renewal projects in towns and cities that enable economic growth through improved connectivity ■ The definition of infrastructure is arguably outmoded, and must embrace housing and business premises, and access to services, that are critical to a thriving economy. To send feedback, e-mail Louisa.Clarence-Smith@egi.co.uk or tweet @LouisaClarence or @estatesgazette