Budget 2017: Hidden taxes, housing and devolution


LISTEN: Autumn Budget 2017


The industry has responded with mixed reactions to the Autumn Budget. From business rates and stamp duty changes, to infrastructure investment and that capital gains tax bombshell, there was plenty for the sector to digest.Read more


Housing
Stamp duty abolished for all first-time purchases of up to £300,000. This is available on first £300,000 on purchases of up to £500, 000 in London
An urgent review established to look at gap between housing permissions and completions - an interim report due to be published by the spring statement. Read EG's data analysis on residential applications crash by a third
Hammond makes his formal pledge: £44bn to build 300,000 homes a year by the mid-2020s
Local authorities will be able to charge a 100% council tax premium on empty property, Hammond says
Government will increase targeted affordability funding for housing by £125m over next two years, benefiting 140,000 people
Business Rates
After next revaluation, full business rates revaluations will take place every 3 years
Business rates will switch from RPI to CPI two years early in Apr 18, which will save small businesses £2.3bn over 5 years, Hammond says
Infrastructure
£1bn of discounted lending to be made available to Local Authorities across the country to support infrastructure projects
The Regions
Chancellor pledges £1.7bn to support NPowerhouse + Midland Engine - 50% to go to areas with elected mayors, 50% up for grabs for other areas

Government to open negotiations for a Belfast city deal
Chris-Oglesby, Brentwood

Bruntwood chief to ‘disrupt’ property market

Bruntwood chief executive Chris Oglesby has pledged to “disrupt” the property market through “innovation of our customer proposition” as the group reported a 14% increase in net assets

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Treasury committee slams ‘Spreadsheet Phil’s’ plans

The government Treasury committee has hit back at chancellor Philip Hammond’s property proposals revealed in 2017’s Budget

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Boat on harbour in Hong Kong

Asian investors are still leading the charge in the UK

Hong Kong investors have taken the lion’s share of all commercial property investment in central London in the past 12 months, says Stephen Down, head of Savills’ central London investment team

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CGI Preston Barracks

2018: What does the year hold in store for the industry?

As 2018 gets under way, EG looks at what the year ahead has in store for all sectors of the industry.

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Ten property demands for the Budget

Forecasts for the big speech.

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PODCASTS: Property on the Budget

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Spring Budget 17: key takeaways

EG reports on the announcements

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Outrage at Hammond’s lack of ambition

EG gathers reaction from real estate property professionals.

Business rates: why there are no winners

The impact of business rates on businesses around the country.

Response to business rates relief

Daniel Watney’s head of rating Debbie Warwick explains why she is disappointed by the Budget.

Rates: spectacular lack of ambition

Gerald Eve's Jerry Schurder gives his view on the chancellor's business rates changes.

Response to business rates relief

The OBR forecasts accompanying the Budget for UK growth could be optimistic.

Business rates: reading between the lines

British Property Federation finance director Ion Fletcher responds to the Budget.