In partnership with PricedOut, the Adam Smith Institute is sharing this briefing document which outlines the application of full expensing, which was successfully made permanent in the 2023 Autumn Statement, to brownfield development.

By applying this policy to Brownfield development, the Government could:

• Have a rate of return of up to 17% over the policy’s lifetime, providing significant fiscal benefits to the public purse.

• Reinforce house builder’s its focus on Brownfield development by improving project viability because of the securer financing pipeline it provides.

• Send a signal to developers, domestically and internationally, that the UK is serious about solving its housing crisis.

• Stop, and even reverse, the collapse of the SME building sector by ending the stop-start cash flow caused by Britain’s sclerotic planning regime.

• Improve placemaking in local communities up and down the country, ensuring that all Brownfield developments are given the investment they deserve.