Coalition govt 'hits commercial property sector hard'

Office design news from Morgan Lovell

Published on 13-05-2010

The setting up of the new coalition government in the UK will see the Conservative Party's £6 billion spending cuts brought into play some time over the coming months and this could have an impact on the commercial property market, it has been stated.

President of the Planning Officers Society David Hackforth said that while the uncertainty of the hung parliament has now been cleared up, it remains to be seen how hard the sector will be hit by these proposed cuts.

He commented: "Clearly there is stuff not mentioned in the manifesto that was in the Green Paper, such as third party rights of appeal, and the proposal to allow schools to take over existing buildings without needing planning permission."

Conservative leader David Cameron formed the UK's first coalition government in over 65 years on Tuesday (May 11th) when he and Liberal Democrat leader Nick Clegg agreed to work together in office during the course of the next parliament.

The pair will now move to tackle the UK's multi-billion deficit, but this is likely to entail cuts, as well as increases in tax in some areas.

Posted by Ian Johnson.