The Institute of Director’s chief economist has accused Ed Milliband of a Stalinist attack on property rights.
Mr Milliband’s idea for a development land grab, his plan for government to effectively confiscate private land, would be used to speed up housing development.
In his key note speech to delegates at the Labour Party Conference Tuesday Mr Milliband called for a “use it or lose it” approach to developers holding on to development land.
In a move reminiscent of the labour party of the 1970s, it seems the party wants to force local councils to allow more rural development and get towns and cities to expand by local government using increased compulsory purchase powers.
It would give local authorities the power to charge developers who buy land with planning permission and don’t develop it immediately.
“We’ll say to local authorities that they have a right to grow and neighbouring authorities can’t just stop them, we’ll identify new towns and garden cities, and we’ll have a clear aim that by the end of the parliament Britain will be building 200,000 homes a year more than at any time for a generation.” He said.