London property sector sets out pleas to government ahead of Budget

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The organization representing property developers, investors and real estate agents in the capital has drawn up a 10-point plan for the government to consider ahead of the budget to drive London’s recovery.

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The London Property Alliance has recommended that the government take a number of initiatives. It also wants to see an additional three-year revenue support package for Transport for London. There have also been calls for a reduction or reduction in rail fares in 2022 to help sustain the return of office workers and to discourage costs from commuting to central London.

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Other proposals include the resumption of tax-free shopping for international visitors.

The alliance represents approximately 400 businesses. It wrote to HM Treasury, and the organisation’s executive director, Charles Begley, said: “We are fully behind the need to flatten the agenda and address regional inequality. Keeping up is critical to national prosperity and the government must ensure that it does not overlook the economic firepower of capital which is vital to UK PLC and its ability to support the transformation of regional economies.

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He continued: “Simply put, you can’t level the UK by leveling London.”

Begley also said: “We must continue to invest in central London, along with other major cities, for future transport infrastructure, leading the way to net-zero, and attracting businesses and visitors to the city.” must continue.”

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