This fringe panel discussion at Conservative Party Conference in Birmingham explored how real estate investment and development can support economic growth whilst delivering tangible benefits for local communities.
Bringing together Leaders of two central London boroughs with the national Conservative party and an expert on the capital’s local government, the discussion considered how the public and private sectors can work together to create the conditions for growth, and how London’s role as a global gateway for investment can contribute to prosperity across the UK.
A key theme was the importance of partnership between local authorities and the property industry to deliver new homes and infrastructure, support jobs and create better places. Panellists also discussed how the benefits of development can be made more tangible for communities through better communication about how development translates into improvements in the local area, alongside the importance of greater fiscal devolution to give councils a stronger stake in economic growth and enable more of the value it generates to be reinvested locally.
Speaking at the event, Gareth Bacon MP, Shadow Minister for Housing & Planning, emphasised the importance of development to London and the wider UK economy: “We need more development in London because we need more homes and we need infrastructure. If we are serious about getting economic growth back in London, then we’ll get economic growth for the United Kingdom, because London is a global city, London is a gateway for investment.”
Thank you to our speakers:
James Raynor, WPA Chair & Chief Executive, Grosvenor Property (panel chair)
Gareth Bacon MP, Shadow Minister for Housing & Planning
Cllr Elizabeth Campbell, Leader of the Council, Royal Borough of Kensington & Chelsea
Cllr Paul Swaddle OBE, Leader of the Council, Westminster City Council
Professor Tony Travers CBE, Director, LSE London
