Commenting on todays Autumn Statement, Richard Threlfall, Partner and Head of Infrastructure, Building and Construction at KPMG, said:
“The biggest story for infrastructure in the Autumn Statement is the announcement of a pilot project for sharing some of the benefits of developments directly with individual households."
“It means that in the future those near major infrastructure schemes could start to benefit financially. Just imagine if the proposals for a new bypass near your house meant that you could be offered twice the market value for it and could move to somewhere better that, perhaps, you could only have dreamt of before."
“This would transform the debate over UK infrastructure and change the face of Britain. It would abolish the current compensation regime which, by paying as little as possible, ensures the strident opposition of all those nearby, draws in wider opposition groups, and throws fuel onto the fire of controversial schemes."
“The whole country benefits from schemes like HS2 or fracking in Balcombe, but under the current regime the cost is borne by those whose homes and businesses are affected. A more generous compensation scheme would be fairer all round and is long overdue."
“If those near major developments can become supporters not opponents of new infrastructure projects, we can wave goodbye to nimbyism."
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