In March we has the Chancellor’s first full budget aimed at maintaining stability and growth in the UK economy, whilst around us the impact of the financial market instability in the USA seems to be widening with the ‘bargain basement’ takeover of Bear Stearns.

Here in the Midlands we know that both residential and commercial markets are slowing down. On the residential side, I am informed that there are still plenty of viewers for properties but people are holding out for that extra bargain they think is waiting around the corner.

Whilst for commercial, there are ongoing exciting developments taking shape by the day. Representatives from all sectors have been at MIPIM recently showcasing the West Midlands to the world and hoping to attract world class involvement and investment in our region.  

Housing numbers remain high on our agenda, with the Government Office having instructed consultants to look at further options for delivering higher numbers of new homes than those submitted in the Phase Two Revision Draft Submission of the Regional Spatial Strategy.

The formal consultation on the draft RSS has been extended to 30 June 2008 and the Examination in Public likely to be held over into 2009.

Major concerns over the provision of infrastructure to support the required homes remains at the forefront of many discussions, and we will be ensuring that they are not swept under the carpet in any additional option proposed.

Creative/innovative funding solutions seem to be flavour of the moment and my impression is that government departments are making the assumption that the proposed Community Infrastructure Levy will pay for any infrastructure needed.

The danger is that it will have been accounted for several times over before it is even with us! Supplementary business rate proposals will also be sought to plug this funding gap and we need to be vigilant about where the full burden of these measures fall.

On rural matters, AWM recently launched its scheme for funds under the Rural Development Plan for England (featured in our previous edition). The key to accessing these monies will be schemes that are collaborative in some way – it is unlikely that individual businesses or landowners will qualify unless their scheme has a broader impact.

We intend to arrange one or two meetings in coming months where members can be briefed and meet the relevant AWM, the rural hubs team, Natural England and Forestry Commission representatives.

However, if you already have an idea for the scheme, contact AWM or your local rural hub now and start exploring the possibilities.

Overall, our aim is to ensure that RICS is seen as being engaging in the strategic policy debates in the region. This is definitely happening, particularly through our members who are involved with the West Midlands Business Council and the Regional Assembly (and their various sub groups).

We are also receiving an increasing number of invitations to participate in events and key discussions. However I am convinced that there is more going on across the wider region, so if you are an RICS member, and involved in policy making in your part of the region, let me know so that we can plot the bigger picture and offer support.   

Deborah Walsh
Head of Public Policy and Communications, RICS (West)
T: +44 (0)121 643 0112
dwalsh@rics.org