IN its manifesto launched ahead of the May's Assembly elections, RICS has set out a series of recommendations that have emerged from the views and insights of its 4,000 members across Northern Ireland.
The aim of 'Investing 4 Growth' is to support the Stormont Executive in its central role of creating an enabling environment for investment, growth and private enterprise across the four key areas of land, property, construction and infrastructure.
We want Northern Ireland’s political parties to fully recognise the role of property - encompassing housing, planning and development – construction, and infrastructure in driving economic growth and building better communities.
We strongly believe that skills, grade A office space, adequate housing, and infrastructure investment are critical to creating innovative growth in the local economy, and the recommendations in the manifesto are focused on these.
With the power to set a rate for corporation tax approved for devolution to the Assembly, and the announcement of an agreed date and rate set in the Fresh Start deal, the Executive must ensure a coherent competitive package is supported across these areas to unlock the timely and competitive benefits of a reduced rate.
Among other things, the manifesto (details at at www.rics.org) is calling for the establishment of an independent commission to guide investment in Northern Ireland’s schools, hospitals, roads, railways, energy, and other infrastructure.
We believe that independently assessing Northern Ireland’s infrastructure needs and making strategic decisions in the public interest about where investment should go would be a very positive step towards delivering best value for money and providing a boost to the private sector.
It would take a similar form to the National Infrastructure Commission, which was charged by the UK chancellor with “offering unbiased analysis of the UK’s long-term infrastructure needs” when it was established last year. The chancellor said that it would also hold government to account in terms of delivery.
We also believe that an introduction of domestic water charging and case-specific use of public private partnerships to fund infrastructure investment should be on the table as a way to fund capital investment for the betterment of society and the economy.
Government departments and the Strategic Investment Board should also produce infrastructure business plans to ensure greater awareness and transparency regarding the economic, social and environmental benefits, and regional significance, of planned infrastructure projects
A five-year Regional Infrastructure Delivery Plan of high-value public infrastructure projects, strategically prioritised, including timetables for delivery, funding identified, and delivery partners outlined, should be created.
On the residential property side, introducing letting and managing agent regulation should be a high priority to drive up standards, transparency and fairness in the Private Rented Sector and to ensure its viability as a housing option. The private rented sector plays an important role in the housing market, providing a flexible option for many people. Tenants and landlords should have confidence that they will be treated fairly.
We also want government in Northern Ireland to facilitate greater sharing of information at a local level on identified empty homes in line with local authorities’ new economic and planning role, and to undertake a campaign to promote the NI Housing Executive’s ‘matching service’ which seeks to match those wanting to sell empty properties with those wanting to buy.
:: Ben Collins is director of the Royal Institution of Chartered Surveyors (RICS) in Northern Ireland, which has 4,000 members employed in the land, property and construction markets and in associated environmental issues.
