Brexit and the Impact on Planning
David Cameron started today with an emotional speech acknowledging that the " British people have voted to leave the European Union and their will must be respected". Nobody has a crystal ball as to precisely what impact this decision will have on the UK but under the 2007 Lisbon Treaty there is a two year window to negotiate Brexit terms.
This means there is time for the Government to decide which laws deriving from European Directives will be preserved, changed or repealed. Much of our planning and environmental legislation has been shaped by Europe such as Environmental Impact Assessments. These requirements will not disappear overnight and it is likely they will be kept but there is an opportunity to shape them differently.
There may also be harmful consequences for major infrastructure projects as much of the funding comes from Europe including Crossrail and HS2. How such projects will be funded in the future will clearly be included in the Brexit negotiations.
It is impossible, though, to predict what the wider impact will be on our economy or the property market at this stage but if migration is reduced then the pressure on housing should be reduced and housing needs assessed more accurately.
Cameron clarified that the Governor of the Bank of England will be making a statement about the steps that the Bank and the Treasury will take to reassure financial markets following a Cabinet meeting on Monday so the coming weeks and months will all be about shoring up confidence and he confirmed that the legislation as set before Parliament in the Queen's Speech will continue. This should, therefore, include progressing the Neighbourhood Planning and Infrastructure Bill.