London property sector sets out pleas to government ahead of Budget


n organisation representing property developers, investors and real estate agents in the capital, has set out a 10 point plan for the government to consider ahead of the Budget to drive London’s recovery.

The London Property Alliance recommends the government looks at a range of initiatives. It wants to see a three-year additional revenue support package for Transport for London. A freeze or cut in rail fares in 2022 is also sought to help sustain a return of office workers and remove a cost disincentive from commuting into central London.

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

The alliance represents around 400 businesses. It has written to HM Treasury, and Charles Begley, executive director the organisation, said: “We are fully behind the levelling up agenda and the need to address regional disparity. However, maintaining London as a leading global city is vital to national prosperity and the Government must ensure it does not overlook the capital’s economic firepower which is vital to UK plc and the ability to support the transformation of regional economies.”

He added: “Put simply, you cannot level up the UK by levelling down London.”

Begley also said: “We must continue to invest in central London alongside other major cities in order to futureproof transport infrastructure, lead the path to net-zero, and continue to attract businesses and visitors into the city.”

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