Category Archives: Economy

Real-terms cut in Council Tax for fourth year

New official figures show that the average Council Tax bill in England has fallen in real-terms for the fourth year, as almost two-thirds of town halls have taken up the government’s freeze offer, Local Government Secretary Eric Pickles announced today (26 March 2014).

National statistics released today reveal that the average band D Council Tax level from this April to be £1,468, or a change of just 0.9%, 1 of the lowest changes ever and a cut in real-terms. In London, Council Tax bills have fallen in cash terms by 0.4%. Continue reading

CBI: Recovery depends on make or break Budget

The CBI reiterated its call for the Chancellor to use his Budget today to focus on boosting investment and exports to help build on the recovery and rebalance the economy.

The leading business organisation is also arguing for a freeze to the Carbon Price Floor from 2015/16, and more support for energy-intensive firms to help them compete internationally in the face of higher costs. Continue reading

Estate Agent outlines radical Stamp Duty ‘credit’ proposal

Ahead of this week’s Budget, the UK’s largest independent estate agent haart has outlined a new proposal to change the way stamp duty is charged which is fairer to the consumer and will help to get the current log jam of housing supply unblocked.

Under the radical proposal, each seller will be able to deduct the value of stamp duty paid by their buyer from the stamp duty they pay on their next home. Continue reading

Stamp Duty jumps cost sellers over £250m

Stamp duty “dead-zones” have wiped over £260 million off the value of residential properties sold in the England and Wales since April 2012 at an average cost of almost £7,000 to each seller, according to property website Zoopla.co.uk.

Since April 2012, when the last changes were made to the levels of stamp duty charged on the purchase of a residential property, over 37,000 properties have been under-priced in order to avoid costly jumps in stamp duty and make them more attractive to buyers. Continue reading

Build to Rent round 2 shortlist announced

Tenants are to get a greater choice of newly-built homes to rent, under plans announced last week.

Housing Minister Kris Hopkins published a shortlist of developments in areas including London, Manchester, Liverpool and Kirklees, which could benefit from a share of the £1billion Build to Rent fund to deliver homes specifically for private rent. Continue reading

New York poised to take top global city crown from London

New York will overtake London as the most important city for the ultra-wealthy by 2023, according to Knight Frank’s Wealth Report, an annual analysis of wealth flows and property investment around the world.

The report shows that three of the top five most important cities by 2024 will be in Asia, knocking Geneva from the top 5. Continue reading