Liz Truss, who was unveiled on Monday as the UK's new prime minister, must deliver 'strong government leadership' according to Melanie Leech, chief executive of the British Property Federation.
'The new prime minister must address the immediate cost pressures facing businesses and families, but in parallel there must be a clear focus on the longer-term objectives to tackle inequalities across the UK and transition to a greener, high-productivity economy,' Leech said in response to news that Truss would be taking over from Tuesday in Downing Street.
Truss, who has been working as foreign secretary to the UK government for the last year, beat her rival Rishi Sunak 57% to 43% in the leadership election - a closer result than many expected.
In her victory speech to the Conservative Party, she immediately promised a 'bold plan' to cut taxes and help people pay their energy bills.
In the run up to the final result she had also pledged to 'rip up red tape that’s holding back housebuilding and give more power to local communities'.
Yet Grant Leggett, director and head of the London office of planning and design consultancy Boyer described Truss' 'red tape' comment as 'sound-bite-ism and nothing new. Indeed, this sort of rhetoric and the great planning White Paper of 2020 sought to do just this, but was arguably the beginning of the previous PM’s downfall'.
Alistair Watson, partner and UK head of planning & environment at law firm Taylor Wessing, commented: 'In terms of planning reform, if the sporting adage – the harder you work, the luckier you get – remains true, the new PM is going to have to work very hard and get extremely lucky.'
The property sector supports 1 in 13 UK jobs and contributed more than £100 bn (€116 bn) to the UK economy in 2019, according to the BPF.
Nick Sanderson, CEO of senior living specialists Audley Group, suggested Truss should pay attention to the country's ageing demographic: 'Our new prime minister will have a lot on her plate, but I hope her vocal commitments to social care are not forgotten. The more age-appropriate housing, with care and wellbeing facilities on site that we build, the lighter the pressure on the system.'
Truss meets Queen Elizabeth II on Tuesday before officially assuming the role. In her party speech, she set her sights on the 2024 general election and underlined that she would 'deliver' on that front as well.
However, the new leader, the UK's third female prime minister, takes over in the midst of a cost of living crisis, a war in Europe, the Brexit aftermath, and the falling popularity of the Conservative Party amongst voters.
