Budget 2013
1. Chancellor promises to boost infrastructure spending by 3bn a year from 2015/16
2. Shared equity schemes extended, with interest-free loans up to 20% of value of new-build properties for all borrowers, not just first time buyers
3. Bank guarantees to underpin 130bn of new mortgage lending for three years from 2014 for those unable to afford large deposits
4. Support to the Heseltine Review with creation of a single competitive pot of funding for local enterprise
5. Extension for Funding for Lending scheme being ‘actively considered’
6. Long term public sector investment plans to be announced in June’s Comprehensive Spending Review
7. Introduction of capital gains tax relief for sales of businesses to their employees
8. Corporation tax down to 21% next year – in April 2015 main rate of Corporation Tax to be down 1%
9. Support to small businesses from April next year – Employment Allowance to take the first 2,000 taken off national insurance paid by every company
10. Introduction of a new tax regime to promote early investment into shale gas
11. Energy growth to focus on low carbon economy that creates jobs and an increase in carbon capture projects
12. Fivefold increase in the value of government procurement budgets spent through the Small Business Research Initiative.
Philip Roberts Commercial Property Solicitor said: “The proposed consultation to allow the change of use from retail use to residential without the need for planning permission could radically change the face of the nation’s High Streets while boosting housing stock.
Expanding the shared equity scheme for new build property to all borrowers and not just first time buyers should give the housing market a boost but only time will tell.”