Shiv Malik

And then the last bit is that when the houses are built, they're just as expensive as anything else in the local area.

So what problems, affordable housing problems, are you solving?

And the reason for that, the reason for all of that and why is because of what we call the kind of local plan system.

What is that?

Basically, your local government area

district council wherever it may be uh goes there every five years they go look let's have a call for sites what does that mean if they go ask a bunch of private developers professionals who land bank you know where do you think you could build some houses what does land bank mean yeah well it means you hold on to parcels of land which you think you know maybe in five years 10 years maybe even 15 years that could be useful we could build some houses on it but right now maybe we don't have the permission right so you kind of hold on to that land it's

It's not per se a bad thing.

And that's their job, right?

It's their job is to kind of keep that pipeline of development going.

So the local council calls out for sites.

The private developers come back and say, we could build here.

And then, of course, there's this thing in the middle, infrastructure, which never gets thought about strategically.

That's up to someone else, right?

It's up to the roads, people to do the roads, the utilities companies to build the kind of infrastructure for electricity and water, etc.

But it's not part of that local plan, basically.

So for certainly for 15 years, even longer, really several decades, we've had this system and it's delivered terrible, terrible outcomes.

Ultimately people, the developers just want to build the homes.

That's where the money is.

And of course they don't want to build the infrastructure.

So you have this long process called, you know, section 106 agreements, which get kind of negotiated and battled over and local people go, oh, this is terrible.