The plan is to give powers back to local authorities. Significant local projects, such as new housing estates, will have to be designed through a collaborative process involving the neighbourhood.
The Tories also plan to create local incentives for house building by matching pound for pound council tax receipts from new housing.
The Labour Party manifesto, which was launched on Monday (12 April), sets out plans to cut regeneration funding but also build up to 10,000 council homes a year by the end of the next Parliament.
Other issues highlighted in the two manifesto documents include:
Business: make small business rate relief automatic; give small and medium enterprises a £2,000 bonus for all apprentices hired.
Planning: developers to pay a tariff to local authorities to compensate communities for loss of amenity; allow neighbourhoods to stop the practice of garden grabbing.
Environment: Produce a white paper on protecting the natural environment; launch a national tree-planting campaign, planting up to one million trees.
Farming: minimise and reform on-farm inspections; abolish Agricultural Wages Board; ensure a fair market for food suppliers by reducing the burden of regulation; introduce an independent supermarket ombudsman
Business: cut business rates for one year from October; 15 per cent of central government contracts to small and medium enterprises; advanced apprenticeships expanded to create 70,000 places a year.
Planning: centralised planning body to fast-track major infrastructure developments: cuts to regeneration funding to focus on worklessness; maintain the green belt and maintain target for 60 per cent of new developments to be on brownfield sites; put forward new areas for protected landscape and habitat status.
Farming: create a supermarket ombudsman; ensure a fair market for food suppliers.