Building and The Budget 2016
There are mixed thoughts on the 2016 budget delivered by Chancellor of the Exchequer George Osborne, although many agree that it is a stable budget with more gains than losses for the construction industry. Cuts in small corporation tax and the increase in small business tax relief seemed welcome, as did the fuel duty freeze and additional flood defence spending. A significant spending increase on infrastructure such as railways and roads will also boost construction opportunities.
However the FMB have warned that the new budget will not help the Government meet its own housing targets, and while the proposed faster planning application process along with some measures in the budget are useful, it may not be enough to meet the demands of the current housing crisis.