With the Government exploring ways to free up space and encourage the building of new homes, the Chancellor may consider a number of measures.
Rob Walker added:
“It has been mooted that some less verdant green belt land could be released for development but a stronger possibility might be reforming compulsory purchase order powers to support local authorities to assemble land. Other options include relaxing the borrowing cap for local authorities, allowing them to invest in quality existing stock and deliver new social housing stock.
“The budget may be seen as the ideal opportunity to flesh out proposals for locally accountable new town development corporations.
“We also expect a detailed response to the consultation launched a year ago to bring non-UK resident companies, which are currently charged income tax on their UK rental income and non-resident capital gains tax on certain gains, within the scope of UK corporation tax.”
