Autumn Statement 2023: The key points



In today's Autumn Statement (22nd November), chancellor of the exchequer Jeremy Hunt explained what the government will be doing to bolster development in the UK.


Hunt has promised to improve planning application speed, introduce permitted development right and invest in nutrient mitigation schemes to develop more homes.

The key points of the Statement include plans to:

  • introduce premium planning services across England with guaranteed accelerated decision dates for major applications and fee refunds wherever these are not met
  • commit £110m available through the Local Nutrient Mitigation Fund to support LPAs in delivering high-quality local nutrient offsetting schemes, unlocking up to 40,000 homes over the next five years
  • provide £5m to incentivise greater use of local development orders in England, to end delays for businesses so that commercial projects secure planning permission faster
  • invest an additional £32m across housing and planning to unlock thousands of homes across the country
  • invest £5m in additional funding for DLUHC’s Planning Skills Delivery Fund so that LPAs can target development application backlogs
  • introduce a consultation on a new permitted development right (PDR) which allows homeowners to subdivide homes into two flats without changing the exterior, to be implemented in 2024
  • extend the existing Affordable Homes Guarantee Scheme by £3bn to help it deliver 20,000 new homes, in addition to improving the quality and efficiency of thousands more 
  • provide £3m for a range of measures to improve the homebuying and selling process
  • raise Local Housing Allowance (LHA) rates to the 30th percentile of local market rents in April 2024 to benefit 1.6 million low-income households — which is expected to result in savings of approximately £800 a year in 2024-25
  • reduce employee national insurance tax from 12% to 10% — a £450 yearly tax cut for the average person earning £35,400, to be implemented from January 2024
     


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