News from the Residential Property Investor, the bi-monthly magazine for RLA members other artilces from the January / February 2003 issue RPI news archive

'Sustainable housing' a Pre-Budget aim - January / February 2003

Chancellor Gordon Brown has added to the contradictory predictions about house price movements in 2003 by saying the Treasury expects a 'slowing' of the housing market.

His comments came in the Pre-Budget statement that now annually sets the scene for future tax changes.

The Government would remain 'vigilant about domestic risks including the need for a sustainable housing market', said Brown.

Among the measures promised were further moves to boost growth in 2,000 Enterprise Areas where stamp duty for all business property transactions is to be abolished as from Budget Day while local authorities are to numbers and affordability of houses', with the promise of a Communities plan from the Deputy Prime Minister in January.

The Pre-Budget statement was greeted with disappointment by the Glass and Glazing Federation which had been hoping for announcement of a reduction of VAT on replacement windows. 'We believe that with the changes to the building regulations this year and the associated increased use of energy efficient low emission glass in all replacement windows, the Government should recognise the impact that these will have on saving energy', said its chief executive, Nigel Rees. be given powers to relax requirements for detailed planning permission.

In other areas a planned new stamp duty regime that will be 'applied fairly to all relevant transactions' will be introduced in 2003, said the Chancellor. This will be supported by 'a modern compliance regime', he said.

There would also be 'measures to increase the numbers and affordability of houses', with the promise of a Communities plan from the Deputy Prime Minister in January.

The Pre-Budget statement was greeted with disappointment by the Glass and Glazing Federation which had been hoping for announcement of a reduction of VAT on replacement windows. 'We believe that with the changes to the building regulations this year and the associated increased use of energy efficient low emmision glass in all replacement windows, the Government should recognise the impact that these will have on saving energy', said its chief executive, Nigel Rees.
 

other artilces from the January / February 2003 issue

• Damned either way
• Deposit scheme looks set to become mandatory
• RLA tenancy agreement wins backing
• 'Sustainable housing' a Pre-Budget aim
• Appeal Court upholds gay rights
• In brief