This is an ambitious Plan, and delivering it - particularly meeting London’s housing need - is a significant challenge. The level of growth anticipated in the Plan will require significant investment from both the public and the private sector. London’s growth is important for all Londoners, and for the economic prosperity of the UK. It is therefore important that the required long-term investment set out in the London Plan can be funded and delivered.
This chapter sets out a policy framework for viability and planning obligations and estimates the investment in infrastructure needed to deliver the London Plan. A lot of this investment will need to be provided by the public sector. The chapter outlines the gap between currently committed and required public sector funding, and summarises potential options for meeting this funding gap. It also outlines the need for a more supportive regulatory environment where private sector investment is involved.
The most critical areas for investment to achieve the step change in housing delivery that London needs are increased investment in transport infrastructure and fundamental changes to the housing market. There is also a significant need to invest in enabling infrastructure, such as green infrastructure, water, energy, waste, digital connectivity and social infrastructure.