As first revealed on newbury.net, Park Way developer Shearer Property Group wants West Berkshire Council to cut the affordable housing quota from 30% to 20% so it can sell an extra 20 flats on the open market to balance the books on the £147m project.

Shearer has already set aside a £4m subsidy to lure Debenhams away from the Kennet Centre, and a further £7.5m sweetener is earmarked to subsidise rents for some of the 60 new shops expected to move or relocate there.

The developer hopes to save more than £4m by selling the flats instead of handing them over to a housing association, which together with other concessions will generate the 15% profit required by the developer’s backer Standard Life.

New figures released show that nearly £23m of land deals have to be concluded before work can start on site next October, and that West Berkshire Council will collect around £3.5m in local developer tax known as “planning gain”.

Even if the cutbacks are backed by the planning committee, the project could be stalled further by the Lib Dem opposition, who are calling into question why the Tory-run council appears to be bending the planning rules.