Labour unveils plans to transform Croydon’s future
Steve Reed MP has hosted an event in Parliament to persuade the Government to support Croydon’s bold £9.5bn regeneration plan. The proposals, drawn up by the borough’s recently elected Labour council, would bring 23,000 new jobs and over 8,000 new homes to the borough alongside new schools and health services, a revamped central shopping centre, and improved public transport.
The proposals would see Croydon transformed into south London’s major retail and commercial centre, with new development primarily taking place on brownfield sites in the town centre and district centres across the borough that have been neglected for decades. The town would also develop a major new ‘tech city’ with over 1,000 new technology businesses taking advantage of Croydon’s strategic position just 16 minutes by train from central London and Gatwick Airport.
The council wants the Government to let the borough keep income from stamp duty, business rate growth and the New Homes Bonus to help fund the proposals. The economic growth this would generate would more than pay back the Government over time.
Speaking after the event, Croydon North MP Steve Reed said: “This is the chance in a lifetime to transform Croydon’s future for everyone who lives here. I congratulate our Labour council for drawing up bold proposals that meet residents’ own ambitions for their borough. After years of decline under the Tories this is Croydon’s turn-around moment. Now we need the Government to recognise how these proposals would benefit not only Croydon but a large swathe of South London and South-East England and endorse the devolution proposals so Croydon can take back control of its destiny.”
You can read details of the council’s proposal here: http://www.croydonnow.co.uk/