Magazine article Public Finance

Regeneration Plans Could Be Hit by Credit Crunch

Magazine article Public Finance

Regeneration Plans Could Be Hit by Credit Crunch

Article excerpt

The government has admitted that plans to regenerate local communities could be thwarted because of the global credit crunch.

It has now commissioned 50 experts to examine the impact of tighter credit terms and uncertainty in the housing market on regeneration projects.

Local government minister John Healey told a conference in London on May 27 that It was important to maintain the momentum built up over the past decade, while understanding the risks posed by the slowdown in economic growth.

'While we need to assess the influence of the current market sentiment, we also need to recognise that regeneration is a long-term process and investment horizons are likewise long-term,' he said.

'I will be looking for the study to ensure we can both cope with any short-term consequences and maintain investment confidence for the longer term. …

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