Autumn Statement 2013: Development compensation pilot project

Autumn Statement 2013: Development compensation p...

This would transform the debate over UK infrastructure and change the face of Britain."

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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."

- ENDS -

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For further information please contact:

KPMG Press office  +44 (0) 207 694 8773

Katrin Boettger

KPMG Corporate Communications

M: 07824 475168


About KPMG: 

KPMG LLP, a UK limited liability partnership, is a subsidiary of KPMG Europe LLP and operates from 22 offices across the UK with over 12,000 partners and staff. The UK firm recorded a turnover of £1.8 billion in the year ended September 2012. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. We operate in 156 countries and have 152,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. KPMG International provides no client services.

This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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