Rachel Reeves will reinstate compulsory housebuilding targets as part of an overhaul of Britain’s planning rules.

In her first major speech as Chancellor on Monday, she will confirm that Labour will overturn Michael Gove’s decision to water down planning targets.

The announcement will raise fears that Labour will push councils to build on green belt land to help it meet its promise of building 1.5 million new homes over the next five years.

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