Key Property Issues
On 18 March 2015, the Chancellor of the Exchequer, George Osborne, delivered the March 2015 Budget.
As far as the property industry is concerned, the main announcement of interest was the government’s commitment to the long-promised review of business rates. The property industry has been lobbying the government for some time on this issue and its crippling effect on businesses in England and Wales continues to hinder economic recovery.
The Help to Buy: ISA is another step in the right direction for those looking to get on the housing ladder but one wonders how much it will really help when, in certain parts of the country, the rise in property prices continues to outstrip wages.
The government continues to tweak around the edges of the planning system. However, its proposed reform of the CPO procedure will interest those advising on property development.