The shackles were definitely off in this unusual summer budget especially with the surprise rise in the minimum wage.
It was clear that the Chancellor wanted to flex his muscles in the first all-Conservative budget since November 1996.
Most of the budget announcements fleshed out some of the pre-election promises with the cutting of inheritance tax on properties under £1m the worst kept budget secret yet.
The move will make a real difference to middle income families and won’t cost the tax payer if it’s budgeted for correctly.
Announcements about the housing market were lighter than expected and I wait with interest to hear the reforms to the planning system which will be announced this Friday, it’s essential that they free up planning for more house building.
I would like to see a more empowered “local community” approach to the planning and building of new residential developments, therefore gaining more en mass buy in by the community; this may then open opportunities to review developments near or on green field areas while keeping an element of affordable housing as part of any major development.
However shares in house builders have already dropped due to the new buy-to-let and non-dom rules.
While the Help to Buy ISA isn’t perfect, it is good to know that it is still going ahead.
It will provide a valuable help to a proportion of aspiring first time buyers but we will still need to wait for further announcements to find out the exact start date.
