A consultation has just concluded on ‘Invest 2035’, the UK government’s new industrial policy framework for the next decade.

In its response, the BPF supported the government’s objective of “fixing the foundations” of the economy through infrastructure and property.

According to the trade body, the property industry already generates £110bn in GVA to the UK economy every year and supports 2.5 million jobs.

However, BPF has argued greater support is required for the property sector with measures needed across strategy housing delivery, taxation policy, devolution and new infrastructure delivery aligned with the energy transition.

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In particular, the BPF is calling for greater support in respect to the UK’s life sciences industry where the country is “failing” to capitalise because of a lack of new laboratories and complementary infrastructure.

“The property sector underpins every part of our lives and businesses cannot grow and drive a strong economy unless they have fit-for-purpose modern facilities and the workers they rely on can find homes for their families,” said Melanie Leech, CEO of the BPF.

“There are billions of pounds potentially available to invest in UK property of all types – from state-of-the-art research facilities to high value manufacturing to new homes, and we call on the government to work with us to unlock this investment to deliver Invest 2035 and thriving communities across the country.”