Region in ‘good shape’ to cash in on Hammond’s pledge
ASECOND devolution deal for the West Midlands, the abolition of stamp duty for some first time buyers and new funding for electric vehicles.
There was plenty for Birmingham’s business community to digest in the budget, delivered by Chancellor Philip Hammond...
Kathryn Ventham, partner at planning and design consultancy Barton Willmore said people expecting “fireworks and big surprises” would have been disappointed by the statement but said the second devolution deal should fire up further growth and optimism in the region.
“We don’t know the specifics of what that deal looks like yet but it’s particularly significant off the back of the new Transforming Cities fund unveiled in the region by the Prime Minister earlier this week, which included a sizeable commitment to the West Midlands combined authority,” she added.
“There is clear recognition of the need to invest in transport and vital infrastructure at the outset when planning for the growth and development of our cities.”
The announcement of a second devolution deal was hailed as an “exciting opportunity” by the Greater Birmingham Chamber of Commerce. Henrietta Brealey, director of policy and strategic relationships at the chamber, said: “This is not the first time we have heard a Chancellor deliver a budget targeted at solving the UK’s weak productivity.
“However, there is no denying that there were some welcome announcements for the business community.
“Investment in research & development, transport and the latest technological develop- ments are vital to business and economic growth.”
James Cubitt, head of the Birmingham office of property consultancy Colliers International, said: “This was a Budget for business and the Chancellor made it clear that increasing our national productivity is key to prosperity for all.
“The confirmation of a second devolution deal for the West Midlands and the creation of a £1.7 billion transport fund for city regions means that the West Midlands is in great shape to ensure that we can prosper from the job creation and improved wages that will come from this increased investment.”
Jonathan Dyke, strategic land director with property group IM, said: “It was good to see the Chancellor pledge his commitment to supporting development and growth across the regions.
“We believe the priority promotion of development in existing urban areas and around transport hubs is the right course of action but planning reform needs to grounded in reality and should respond to where people want to live.”
Craig Alsbury, senior director in the planning team at property consultancy GVA, said: “Undertaking a fundamental review of the house-building system will be largely welcomed by the industry as is the Chancellor’s commitment to tackle infrastructure problems such as road building and land contamination that have such a significant impact on the viability and deliverability of development for housing.
“The government needs to continue to seek to speed up the local planning system and provide clearer targets for the allocation of land for housing, both small and larger scale.”
Alan Fraser, chief executive of YMCA in Birmingham, welcomed the commitment to build 300,000 new homes every year but said this would not solve the housing crisis.
“The government needs to make sure that these new homes are the right kind of homes and in the right places,” he said.
“Allied to the Chancellor’s housebuilding drive, we also need to see a real and meaningful commitment to regionalisation and investment in and job transference to the regions.”
The West Midlands is in great shape to ensure that we can prosper from the job creation and improved wages
Lord Kumar Bhattacharyya, founder and chairman of Warwick Manufacturing Group, hailed the Government’s pledge of a range of measures to support Britain’s position at the forefront of the technological revolution particularly in automotive.
He said: “The Chancellor stated that our future vehicles will be driverless, but electric first, and a change that needs to come as soon as possible.
“He is absolutely right...in three to four years, most new cars will be electric or hybrid – there is no choice given the amount of regulation around the world intended to produce better air quality.”
James Cubitt, Colliers
Russell Luckock, chairman of AE Harris and Birmingham Post
Mark Cadwallader, regional director for SME Banking in the West Midlands at Lloyds Bank Commercial Banking, said: “The package of support for housebuilders will be welcomed by businesses, especially those policies that are designed to help smaller developers share in the opportunities available.
“Anything that further boosts housebuilding has far-reaching economic benefits, particularly for SMEs.
“Action to simplify the planning system, allocate land to smaller developers and underwrite loans could all help to accelerate the pipeline of new homes in the West Midlands.”
The government needs to continue to seek to speed up the local planning system