Croydon seeks Autumn Statement boost from George Osborne


By - Tuesday 18th November, 2014

Croydon is pitching for George Osborne to grant the borough a funding boost when he delivers his Autumn Statement on Wednesday 3rd December. 


Croydon – connected, competitive, capable.
Image by White Label Consultants, used with permission.

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The borough has written to the Chancellor asking for “devolved” powers allowing the borough to reinvest business rates, stamp duty and new homes bonus to allow the town to fulfil its potential.

Jo Negrini, the borough’s executive director of development and environment, will outline Croydon’s Growth Plan at the Develop Croydon Conference which takes place at Fairfield Halls on Tuesday, November 25.

“The architect Lord Richard Rogers said you could get five eco-towns in the centre of Croydon,” she said. “We are ready – we are not beholden to a new orbital rail link to kickstart regeneration. We have great cross-party support as well as backing from the GLA, the Mayor and great private sector partners.

“Develop Croydon, the best collection of developers currently in Croydon, is working with us and that’s because we can develop a programme the size of Ebbsfleet in half the time.”

Croydon Council leader Tony Newman recently launched Our Time is Now – the borough’s Growth Zone proposal.

“Croydon is on the cusp of an unprecedented period of regeneration, a £5.25bn investment programme, which will deliver 8,300 new homes and over 23,600 new jobs in the metropolitan centre over the next 20 years,” he said.

“Our Time is Now, our proposal to help fund this ambitious programme, asks government to pilot the devolution of locally generated tax revenues to enable further Growth in Croydon.”

The Develop Croydon Forum has supported Croydon’s proposals by urging the Chancellor to support its “once-in-a-lifetime regeneration opportunity”.

In a letter to Mr Osborne, Develop Croydon Forum chairman Richard Plant, also a partner of Stiles Harold Williams, wrote: “To unlock this investment, the Croydon Growth Zone needs devolved tax powers, including a Stamp Duty pilot and the retention of all uplift in Business Rates from new commercial development.

“The Croydon Growth Zone is being developed with the Mayor of London and is backed by Croydon’s Labour and Conservative MPs.

“As a private sector-led body promoting development and economic renewal in Croydon, our 55 partners are proud to lend their support to the Growth Zone proposals.”

As well as leading officers and members of the administration at Croydon Council, speakers at the fifth Develop Croydon Conference, who will discuss the borough’s potential to become the best new development opportunity in London, include:

Richard Blakeway, Deputy Mayor of London for Housing, Land and Property

Ian Mason, Head of UK Property Fund, Schroders

John Burton, Director of Development, Westfield

Peter Cole, Chief Investment Officer, Hammerson

Michael Hill, Associate Director, Countryside Properties

You can put your questions to the speakers by booking a place at the Develop Croydon Conference. Delegate spaces are priced £350 plus VAT. The conference is organised annually by Develop Croydon, a not-for-profit organisation promoting economic renewal in Croydon.

For more details visit www.developcroydonconference.com

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Release provider: White Label Consultants

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