A report by Public First, commissioned by the Royal Town Planning Institute (RTPI) has revealed that planning reform and increased housing development could miss out on over £70 billion in additional value by not investing in planning.
Previous research by the RTPI shows that public sector planning is in a dire state, with a 16% reduction in public spending on planning since 2009. Planners are overworked and understaffed as a result. Last year, the Institute reported that from 2013 to 2020, a quarter of planners left the public sector.
The report indicates that if the profession continues to be underinvested, there could be missed opportunities for a "planning premium." This premium refers to the characteristics that contribute to the development of vibrant and safe communities, and it could provide an additional value of just under £50 billion over a ten-year period.
The report states that utilising the power of planning to deliver new housing could lead to productivity growth worth £23 billion over ten years. This could bring the total potential loss to over £70 billion if not utilised and invested in responsibly.
