Despite it getting no mention in Philip Hammond’s speech, the Budget 2018 documents reveal that the proposed surcharge on foreign property buyers is likely to be set at 1 per cent. Early in October, when Theresa May revealed plans for a new tax on foreign buyers of UK property on the Andrew Marr programme, the […]
Yesterday, chancellor Philip Hammond delivered the final Budget before the UK plans to exit the EU. Amid the claims to an “end to austerity” and tax relief for small businesses there was a handful of housing-focused announcements, which consisted of an additional £500m to the housing infrastructure fund (among other building initiatives), the removal of stamp […]
Chancellor Philip Hammond has said he will end the era of private finance initiatives by the government. Releasing his Budget today, the Chancellor said that there was insufficient evidence PFIs – where private firms compete to act as contractors on government – had worked. He claimed that 90 per cent had been signed under previous […]
Chancellor Philip Hamond has detailed the numbers his government has promised to spend in the pursuit of building more houses. “I can announce today a further £500m for the housing infrastructure fund to unlock a further 650,000 homes,” Hammond said as he delivered the 2018 Budget. Hammond also mentioned “the next wave of strategic partnerships […]
Chancellor Phillip Hammond today announced that stamp duty will be abolished for all first-time buyers using shared ownership. Delivering his 2018 Budget, the chancellor added that he would make the relief retrospective, applying to any FTB who has purchased a property since the last budget. Beginning a series of announcements related to the housing market, […]
Chancellor Philip Hammond has increased Brexit preparation funding by another £500m in the 2018 Budget today. After allocating an initial £2.2bn to a new Brexit preparations department, Hammond noted said in last year’s Budget that a further £1.5bn for the purposes in last year’s budget. Today he announced that figure will rise to £2.0bn. Hanmond says […]
GDP for Britain has been revised to 1.6 per cent, chancellor Philip Hammond has announced in his Budget today. It is forecast to be 1.4 per cent for the following two years. The OBR’s forecast in the March Spring Statement was set at 1.3 per cent for 2019 and 2020. Borrowing this year is forecast […]
As you read this note, Philip Hammond should be putting the finishing touches to what will be concealed within that famous red briefcase, given he has a tighter deadline than many expected. The Autumn Budget will be unveiled on a Monday in late October this year, a non-traditional day and month, and something of a […]
Last month, chancellor Philip Hammond announced the Autumn Budget would be held on a Monday in October this year, as opposed to the traditional Wednesday in November. The date falls the week after a Brexit summit in Brussels but a week before the November meeting in which more details on Britain’s plans to leave the […]
Landlords could be offered a “good landlord” tax break if they sell homes to sitting tenants, according to pre-budget rumours. Under the proposal, suggested by right-wing thinktank Onward, landlords would not have to pay capital gains tax when selling up to tenants who had been living in a property for at least three years. Onward […]
Chancellor Philip Hammond has announced that 2018’s Autumn Budget will take place on Monday 29 October. Traditionally held on a Wednesday, the announcement comes as a surprise considering that only a couple of weeks ago Hammond suggested that the budget could be delayed due to a November EU summit, where the final details of Brexit […]
Chancellor Philip Hammond has yet to fix a date for the autumn budget because he hopes that a Brexit deal could be settled at a November EU summit, The Times reports. Speaking at Treasury Questions in the Commons, the chancellor said that he doesn’t want the budget to clash with the last stage of negotiations […]