BPF Response to Article 50 Trigger

21 Mar 2017

Policy area: Brexit

Melanie Leech, Chief Executive, British Property Federation says:

“Triggering Article 50 means that negotiations can get underway as quickly as possible, which will give businesses much needed certainty and impetus to continued investment in the UK. We need certainty to maintain confidence in the UK as a great place to invest, which is particularly important for the real estate sector because we attract global investment and those investors commit for the long-term. Our sector supports most, if not all, UK economic activity and so decisions need to be taken now if we are to have the physical infrastructure to support a thriving post-Brexit UK economy.

“As the Prime Minister embarks on the unprecedented task of negotiating an exit from the EU, it’s vital that she and the government both understand the real estate industry’s contribution to the UK’s success, and what it will take to ensure that it can continue to deliver growth and productivity. Our manifesto identifies these to be: work with us to maintain investor confidence in the UK and drive growth; provide fair, competitive and stable tax, regulatory and planning systems; invest in infrastructure and free up public sector land; help us to ensure access to global talent and skilled workers; and support more housing supply across all tenures.

“Our industry is a willing partner for government through this period as it delivers its industrial strategy; and will be critical to the UK’s long-term economic health through its provision of the places where we will all live, work and spend our leisure time. Last week, the UK government was at MIPIM – the global real estate conference – in association with the BPF to showcase the UK real estate sector and ensure it continues to be a leading choice for investors worldwide. This was the UK government’s first ever pavilion at MIPIM, which clearly signalled support for the sector and its role in building a positive future for the UK economy. Our vision is for a long-term strategic partnership with UK national and local governments to deliver economic growth, essential infrastructure and great places.”