Councils fail to spend billions of S106 and CIL money30 Sep 2019 // In the press
Thomas White gives his expert opinion in Property Week.
Property Week revealed their findings that councils in England are sitting on billions of pounds in infrastructure contributions from developers. According to the figures, over £4bn was collected from developers between 2013 and 2018, but £2.5bn was never spent.
Commercial Real Estate partner Thomas White commented on the findings: “One can see that, given the size of the figures involved, developers in future may query the reason for collecting these funds if the council does not seem to be deploying them anywhere.”
Read the full article online here.