CoStar quotes Claire Fallows and Ben Butterworth on some of the key real estate issues addressed in the King's Speech

King Charles III this week announced around 40 draft laws, including plans to accelerate housebuilding and infrastructure development via a Planning and Infrastructure Bill, and to spread economic growth across the country via an English Devolution Bill.

In the King's Speech, King Charles III has outlined the Labour Party's legislative programme. Real estate welcomed the commitments to key issues for the industry but some industry voices expressed disappointment that areas such as business rates were not at the top of its agenda.

The King said that "securing economic growth will be a fundamental mission" of the government as it aims to create a new partnership with business and local people.

On the back of the King's Speech, two members of our Real Estate team comment for CoStar on some of the key areas addressed that affect their clients.

Claire Fallows, Partner and Head of Planning, comments:

Labour’s pledge to tackle the UK’s planning issues is positive. The commitment to delivering new homes and support for energy and infrastructure projects is welcome, as is the call for local planning authorities to review Green Belt boundaries to release sensible sites for development. However, a change in mindset across the country, driven by strong central action, is needed.

"Balanced planning reform is welcome, but better funding and resourcing throughout the planning system are crucial. The commitment to appointing more planning officers is welcomed if roles can be filled. Investment in statutory authorities and the appeal system is necessary for timely decisions. Mechanisms to enable registered providers to fund more affordable housing must be part of the solution to the UK’s housing crisis.

Ben Butterworth, Associate in our Real Estate team, comments:

Since the introduction of the draft legislation [for Martyn's Law] in 2023, despite various reassurances, a further consultation earlier this year on the Bill’s potential impact and a high-profile public campaign led by Figen Murray whose son was killed in the 2017 Manchester arena attack, progress halted under the previous government.

"It is now clear that the aim of Martyn’s Law, to strengthen the security of public premises and events by requiring the property owner or occupier to put in place proportionate procedures, depending on the venue capacity, to deal with terrorism threats will become a reality. Property owners and occupiers will need to understand their duties, which will be backed up by sanctions for non-compliance.

Read the full article in CoStar here.