Planning application and appeal fees will be frozen for one year in a move to help cash-strapped developers save cash and stimulate new projects.
Housing minister John Healey said the fee freeze would save developers £23M this year − money which can be reinvested into new projects which will sustain the UK construction sector through what is predicted to be a stale year for the economy.
The freeze aims to provide an investment boost to new development projects, helping to fuel the green shoots of economic recovery.
“At a time when investing in new developments is difficult and when access to funding is hard, it would be wrong to increase the costs of developers who will help drive economic recovery,” said Healey.
“I recognise that as we start to work through economic recovery, we need to do what we can to keep builders on construction sites and keep plans on the table.
“It is important that we react to the economic circumstances and listen to the needs of people, industry and developers and we have done just that.”