Yesterday, the Government launched its 'Pride of Place' strategy document, outlining long-term funding for communities and high streets across the country.
Within the strategy is a £5 billion funding commitment, including £1.5 billion of previously announced funds for 75 communities as part of the Plan for Neighbourhoods, and further funding of up to £20 million over 10 years for 169 local areas. The intention is that local community groups will play a central role in the allocation of funds.
The document notes what it calls the 'oversupply of retail space in many places' and stresses the need for diversification of high streets to address this. To this end, the Government intends to consult on policies for managing town centre uses in England by the end of the year. It also points to its business rates reform, including the Transforming Business Rates Interim Report which sets out government priorities in some more detail.
Other proposals within the document include:
- A commitment to reforming compulsory purchase process and land compensation rules
- The scrapping of upwards only rent reviews (for which legislation has already been laid in Parliament)
- Following provisional conclusions from the Law Commission on its Landlord and Tenant Act 1954 consultation, a commitment to review the 1987 and 1995 Acts to address the current flaws, of which they mention rights of first refusal and anti-avoidance provisions
- Expanding the use of High Street Rental Auctions, which have been trialled in a small number of local authorities.
We will be monitoring developments on the above points and update members accordingly on our engagements with Government.
