Britain’s Gateway to Growth:Unlocking the potential of the Thames

Gateway

Paul Carter

Leader, Kent County Council

We have massive potential for growth…

…but we need to unlock delivery

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…through pragmatic, localist solutions

• Reduced bureaucracy• New incentives for development• Building a new relationship between local government and the business community• A clear strategy for housing and jobs

The case for change and a new approach

The Government has outlined a new approach to local growth, shifting power away from central government to local communities, citizens and independent providers. This means recognising that where drivers of growth are local, decisions should be made locally.

The Government will therefore:

• Shift power to local communities and business, enabling places to tailor their approach to local circumstances;

• Promote efficient and dynamic markets, in particular in the supply of land, and provide real and significant incentives for places that go for growth; and

• Support investment in places and people to tackle the barriers to growth.

The Thames Gateway is too bureaucratic

We need a bold new approach

Innovative new incentives

Towards a Thames Gateway Economic Zone• Tax increment financing• Business rate retention• New Homes Bonus• Incentives for the private rented sector• Levering private investment in key sites for economic growth

A new relationship with business

• A new strategic Local Enterprise Partnership• Understanding the blockages to investment• Developing solutions to infrastructure blockages

A clear strategy for housing, economic growth, transport and skills

The challenge of localism:

“Local authorities and their partners are going to

have to work harder still toget the homes their communities need”

- DTZ

Capital costs of priorities for growth

• Third Thames Crossing £1,000 million

• Enhancements to M20/M2 £500 million• Bifurcation• Operation Stack

• Network Rail upgrade to Thanet £40 million(inc Manston Parkway station)

• Integrated/ enhanced public transport £80 million

• A21 dualling £50 million

• Other District road improvements £100 million

TOTAL £1.77 BILLIONSpread over 25 years annual revenue cost £154 m p.a.

Our offer to Government

Per annum

• Increased tolls at existing Dartford Crossing £20m additional revenue• Third Thames Crossing toll (assuming transport growth) £30 million• Increased DERV duty banning belly tanks to EU HGVs £475 million• TIF tariff (approx 20% on roads and public transport) £23.4 million• Residential planning tariffs (20%) £10 million• Vignette on foreign lorries £40 million• Port Landing Charge £12.5 million• EU Trans European Network funding £5 million

TOTAL £615.9 million p.a

Note: These figures do not include any GVA increase orwelfare reduction to DWP

“It’s up to you, chums!”

But give us the tools and we’ll do the job