The government’s proposed new Infrastructure Levy is to be based on the final gross development value of a scheme, according to details of the policy contained in the Levelling Up and Regeneration Bill, published this lunchtime.

Explanatory notes to the Bill, published on the Houses of Parliament website made clear that the legal underpinning of the Infrastructure Levy (IL) will be based almost entirely on the existing legislation underpinning the working of the Community Infrastructure Levy (CIL), with the “powers required to operate IL […] substantially similar to those that exist for CIL”.