Higher interest rates hit the young?

To stop the growth of intergenerational resentment igniting due to the housing racket, which transfers wealth from the have-nots to the haves, local councils must introduce spatial access policies. By abolishing the law of trespass councils can create a new category of public open space and rural open space (ROS) into deals with land owners so green belt and other protected areas can also be enjoyed by the public. 

Sarah 0’Connor, a FT columnist says (27 June 2023) people in their mid-30’s have been hit twice by monetary policy in the last decade. She cites the consequences of financing high house prices as one culprit, before going into other causes in detail. It is easy she adds, to see how this could reignite intergenerational resentments. Of course she has a valid point. As often happens, she has explained the problem, but has no answer.

In FT comments I gave her my solution. Readers might find it of interest.

You might wonder where the law of trespass fits into the broken planning control system? Right now it has no role. But it can play a transformational role. Many of today’s frustrations with the planning system are in practice due to unrealistic expectations.about its purpose. What became very clear during the COVID 19 lockdowns was the desperate need for access to far more, easily accessible public open space. Public usage of Richmond Park was dramatic. As a regular user I was amazed by the increase in the number of people out on own, or with small family groups, often plus a dog happily walking. The small cross park narrow tracks used by wild life and a few regulars rapidly became meter wide tracks.

It is clear a large percentage of the population value the denial role green belts fulfil, to stop urban sprawl. Is it now time to enable the public to enjoy the positive role access to this land, for leisure purposes too, subject to reasonable, appropriate safeguards for the owners use too, will offer. . A balance will have to be struck. Local councils have a duty to represent their residents. They need to introduce spatial access policies for their areas. Many local land owners in those areas want to build new homes and pocket the profits.,Is there the basis of a deal here, which is good news for both?

Ian Campbell

27 June 2023