Planning and Infrastructure Bill could give up to £7.5 billion boost

The Planning and Infrastructure Bill is set to boost the economy by up to £7.5 billion over the next decade, according to a government impact assessment.

The Ministry of Housing, Communities and Local Government’s (MHCLG) impact assessment of the bill, currently at Committee stage of the House of Commons, shows a “central estimate” of £3.2 billion to the economy with the highest estimate of “up to” £7.5 billion.

The bill's total benefits are estimated at £5.2 billion, with its total costs at £2 billion.

Housing and planning measures within the bill include the introduction of a national scheme of delegation, a Nature Restoration Fund and development corporations.

MHCLG said lower costs for businesses, fewer delays and “more certainty” through the bill’s measures could promote further investment and “provide an additional boost to the economy”.

It added that the economy-boost estimation was likely to be an “underestimate” as it did not include recent amendments to the bill, including to overhaul the pre-application stage for critical infrastructure.

This move, the government’s analysis suggests, could add another £1 billion “over this parliament”.

MHCLG also pointed to “wider, un-monetised benefits” such as the societal advantage of a speedier …