On Wednesday 24 March 2010, the Chancellor of the Exchequer delivered the last Budget of the current UK Parliament in a speech which was dominated by commentary on the state of the UK economy, proposals to provide fiscal stimulus and some clear headline-grabbing announcements to assist the Labour Party's forthcoming election campaign.
On Wednesday 9 December 2009, the Chancellor of the Exchequer delivered a long awaited and politically charged Pre-Budget Report ("PBR") which was dominated by commentary on the state of the UK economy and proposals to provide both fiscal stimulus and to raise taxes through targeted measures.
The Pre-Budget Report was delivered today and contains a number of features of interest.
With the exception of some measures that aimed to address the glaring gap between the Government targets for new homes and the reality of a housing industry in crisis, there is little in the budget to give spring cheer to the property industry.
Although the 2007 PBR was fairly quiet for the property industry, some general PBR announcements will impact on the property sector and some minor specific property-related changes were also announced.