60% of development to be on brownfield land. Policy of "brownfield first" for new developments.
Incentives and tax breaks amounting to £1bn over five years to make urban development more attractive.
Complete exemption from stamp duty for disadvantaged communities.
Reduction in VAT to 5% for converting houses into flats.
Accelerated tax credits for the costs incurred by developers who clean up contaminated urban land.
A zero VAT rate to provide relief for the sale of renovated houses that have been empty for 10 years or more.
100% capital allowance to property owners for the costs of converting redundant space above shops into flats.
Expand the number of public/private urban regeneration companies from three to 12.
Local authorities given new powers to re-invest the money they make from the sale of council properties into the renovation of rundown estates.
Focus on improving parks and open spaces. There will be a "green flag" award for excellent parks, similar to the blue flag scheme for quality beaches.
