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Experts attack infrastructure levy
Published: 2009-08-10 17:36:21
A planned charge on development to cover the cost of infrastructure spending has been criticised by regeneration experts. (Story sourced from Regeneration & Renewal)
The Department for Communities and Local Government last month issued draft regulations for the Community Infrastructure Levy (CIL), which was announced in last year's Planning Reform Bill. The levy, set to be charged on all new housing and commercial schemes based on local infrastructure costs, would create a pool of cash for infrastructure in an area.
But one senior regeneration figure voiced concerns about the DCLG's expectations that councils would be able to borrow cash to fund infrastructure against an anticipated stream of levy revenue. "Getting the private sector to lend on the back of CIL income would be costly as it would put a high-risk premium on it," the source said.