The government has just announced the allocation of funding under the new Homes Bonus, granting £1.25million of tax recvenue back to Elmbridge. You can see the geographic allocation of funds here.

The idea is to replace top down targets with a financial carrot for communities able and willing to build new homes – especiably affordable housing. For Elmbridge, where there has been a large influx of people – as part of the wider tide of people creeping out of London – this reform will make a difference. One complaint historically has been that we do not receive enough investment to pay for the infrastucture and services to accomodate people, on top of concerns about urban sprawl.

Whilst the new planning guidance must retain greenbelt safeguards and local democratic checks to safeguard against over-development, the new Homes Bonus is part of wider progress we need to make to address the funding shortfall. The broader principle – that local communities should see more of the taxes raised locally – is crucial, and I hope it will be pursued in other areas.