I have to say, I’ve been distinctly underwhelmed by this year’s budget insofar as it relates to business generally and our sector in particular. Yes, it was a positive budget for the house-builders. The announcement of a £500m funding package aimed at smaller developers is good news; despite the upturn in the housing market, they are still finding it hard to access funding from the major lenders. Similarly, confirmation that the Help to Buy Scheme is to be extended out to 2020 will help maintain momentum in the market.
Elsewhere though, help was pretty thin on the ground. £340m to repair potholes and flood defences ravaged by the winter storms amounts to little more than a sticking plaster solution. And where was the help for SMEs in this Budget?
Clearly Osborne delivered this year’s Spring Statement with an eye to next year’s election. Older voters, not smaller business were his target on Tuesday.
Look out for our budget analysis next week.
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