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Commercial Credit News
|Comment: The Budget|
|Wednesday, 16 March 2016|
John Phillips, group operations director of Spicer Haart and Just Mortgages says, “Despite George Osborne’s ‘we are the builders’ mantra, he admitted that the country’s failure to build more housing has been identified as a major problem. Although he said the focus will be on speeding up the planning system, he gave very little explanation as to how this will actually be achieved, which raises more questions than it answers.
“Osborne also re-stated the residential stamp duty reforms that will come into force next month and confirmed that large investors with more than 15 properties in their portfolios will be covered. However, until real measures are taken and building activity increases substantially, the long-term issue around demand for houses and the lack of housing supply means affordability will remain a significant challenge. It is therefore crucial that more work is done to get the homes built that the growing population desperately needs, and I’m surprised that his key priority wasn’t housing.”
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