Nick Timothy

I draw your attention, Madam Deputy Speaker, to my entry in the Register of Members’ Financial Interests. I also declare that my family and I are local residents affected by the development proposal we are about to discuss. I am grateful for this debate about the proposed Forest City, and I am especially grateful to Mr Speaker for allowing me to lead it, given my shadow Cabinet responsibilities. I sought this debate because Forest City is such a danger to our way of life in West Suffolk. For those who are unfamiliar with this monstrous proposal, this is it: a city of 1 million people—the size of Birmingham—between Newmarket and Haverhill in Suffolk, and over the border into Cambridgeshire. It would be a city of 1 million people, supposedly to service the needs of Cambridge—a city that is seven times smaller, with only 145,000 residents. It would be a city of the same population density as London, where on average 58 people live in each hectare. That would all be where today stand ancient villages, communities built on trust and reciprocity, beautiful countryside, family businesses, new tech firms, the international headquarters of horseracing and breeding, and the best arable farmland in the country. The most important thing to say about the plan is that its premise is absolute junk. The Forest City developers make specific claims regarding land assembly, compulsory purchase, affordability mechanisms, infrastructure funding, tax treatment and the scale of state involvement, none of which stands up to scrutiny. First, the resale model removes residential land value and caps resale at inflation-indexed build cost, excluding land.