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Cash deals urged to change Nimby views

Cash incentives should be offered to people to prevent Nimbyism from standing in the way of housebuilding projects, according to Policy Exchange.

The thinktank says the current system where councils decide whether projects get the go-ahead means vocal minorities of residents with a not-in-my-back-yard attitude can block plans too easily.

Policy Exchange argues that if local communities were balloted, with those affected being offered incentives “to help them vote yes” more building would get under way.

Deputy director and editor of the report Natalie Evans says: “Not only does current housing policy not work, it is also extremely expensive. The reforms outlined in this report to social housing and the planning system would save up to £20bn a year.

“Having stable house prices would save everyone money but for that to happen we need to make it easier to build houses.”

Savills head of research Yolande Barnes says: “Getting viable properties of a type people want, where people want them, especially under the current system is especially difficult. The trouble is that the areas of highest demand are often some of the most heavily built already and potentially most likely to find objectors.”

Emba group sales director Mike Fitzgerald says the proposals would not overcome the Nimby problem.

He says: “The problem is thousands of years old. When the Romans wanted to put a road through a part of Rome, I bet the merchants said yes but the people living there said no. But it could help address the fact that it is only usually the people who are adversely affected who come forward.”



Royal London reports £2m loss

Royal London has reported an IFRS loss before tax of £2m for the first six months of the year, compared to an £18m profit at the same time last year. On an embedded value basis the group made a loss before tax of £47m, compared to a £49m profit in June 2009. The life and […]

Actuaries find 40% of big firms could level down

The Association of Consulting Actuaries has warned there is still a significant threat of employers levelling down existing pension arrangements due to auto-enrolment despite the Department for Work & Pensions recently releasing research downplaying this risk. Last month, the DWP released survey results showing that 94 per cent of employers contri-buting at least 3 per […]


Number of high-earning FSA staff trebles

The number of FSA staff paid over £100,000 has trebled in the past four years. Figures obtained by the Financial Times through a freedom of information request show the FSA had 241 staff paid more than £100,000 in March 2010, compared to 81 in March 2006. During the same period total FSA staff numbers increased […]

Gilliat goes digital

Gilliat Financial Solutions has based its 3-year UK digital October 2010 structured product on the performance of the FTSE 100 and S&P 500 indices.

Is three a crowd?

The pension versus Isa debate has raged on and off for years. Les Cameron, head of technical at Prudential, asks if three’s a crowd.   I think the debate was arguably settled by pensions freedom when the biggest downside of pensions – limited access and poor death benefits – was fundamentally changed. Total access, albeit with […]


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