Labour woos industry

The Labour Party is sounding out leading contractors and developers on its proposed Urban Regeneration Policy.

In a recent top level meeting, the Labour Party invited a hand picked group of contractors, developers and financiers to discuss its 'New Urban Policy.' The policy proposes to regenerate Britain's inner cities through partnership arrangements between the private and public sector.

The group included Tarmac's finance director Euan McEwan, Amec development chairman John Early, Paul Hodgkinson, chairman and chief executive of Simons Group and David Goldstone chairman and chief executive of Regalian Properties.

Private sector feedback was very positive, according to Regalian Properties chief executive David Goldstone.

'This was a genuine attempt to get to grips with the problems surrounding public/private sector partnerships. I have no doubts that I could work with a Labour Government and it was abundantly clear that lots of others there who had not previously identified with Labour are also pursuing that idea,' said Goldstone.

The Labour Party was represented by shadow planning minister Keith Vaz, shadow employment secretary Harriet Harman, shadow environment minister Frank Dobson and shadow Treasurer Andrew Smith.

Private sector delegates were enthusiastic about proposals for tax concessions, capital allowances for specific schemes and tax-free earnings for joint venture companies.

Delegates also pointed out that if a Labour Government wanted the private sector to pay for infrastructure then it had to be given substantial incentives such as aid and grants.

Speakers included Ted Totman, partner at city solicitors DJ Freeman, KPMG partner Robert John and NatWest general manager David Edmonds.