Shadow levelling up secretary Lisa Nandy would bring forward legislation to allow councils to purchase land at a price that does not reflect the “hope value” – the value accrued through the expectation of planning permission in the future, the Financial Times reports.
Labour argues that the proposal would not see the state paying below market value. Rather the proposal would see the policy constraints taken into consideration in the same way that current rules, including the application of “hope value”, impact market price.
This story is from the May 30, 2023 edition of The Independent.
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This story is from the May 30, 2023 edition of The Independent.
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