Chancellor’s Budget ‘good for market’
Doesn’t time fly, with nearly three weeks gone since the “tough” measures to reduce the deficit in George Osborne’s emergency budget.
Local estate agency William H brown in Northamptonshire said the Chancellor’s fiscal plans over the next five years were good news for the housing market.
Not only were increases in Capital Gains Tax less severe than first thought, the Chancellor gave a clear message that the UK was “open for business”, which is starting to instil confidence and stimulate activity in the UK economy for the future.
George Osborne’s emergency budget was tough, but fair, striking a good balance between investment in the economy and paying off the budget deficit.
It is encouraging that Capital Gains Tax did not go up as much as the pundits predicted, especially for landlords and property investors, and that the Chancellor decided not to increase Stamp Duty, or make any changes to the previous government’s Stamp Duty exemption for first-time buyers on properties of up to £250,000.
Although tough decisions had to be made in the budget, William H Brown feels confident that Osborne’s plan to strengthen the economy over the next five years is great news for the UK housing market.
It should overcome the uncertainty that has been present in the run-up to both the General Election and the emergency budget, so that people can now make moving decisions with a greater degree of conviction about the future of the economy.
If you want to move home this year, and would like to discuss your options, mortgages and the local housing market, please contact William H Brown on 01536 518555.