A new parliamentary report out today is calling for an overhaul of regeneration policy to tackle investment in deprived areas.
It says that investment in run-down communities can be more profitable than investing in well-off areas, but preconceptions over crime and inadequate infrastructure put developers off investing.

The All Party Urban Development Group’s report Business Matters, argues that these ‘unsexy’ areas have been overshadowed by the government’s enterprise-led regeneration initiatives which the report concludes do not offer a quick-fix for tackling deprivation.

The report backs calls from the property and retail industries for property owners to contribute to Business Improvement Districts (BIDs) – an initiative that sees business owners pay a levy on top of their business rates to pay for amenities such as extra street cleaning, security and marketing, above and beyond what the council provides.

Clive Betts MP, chair of the All Party Urban Development Group, said: “Business Matters couldn’t have come at a better time. With a new government committed to revitalising deprived areas, we have an excellent opportunity to review existing policy; to examine what has worked and look at those areas that need to be improved. Our report sets out in very clear terms what the Government’s priorities should be for streamlining and improving regeneration policy so that it is holistic and targeted.”