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19/03/2009
Pro-property budget predicted |
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Next month's Budget will see the government using a range of measures to try to help and encourage those wanting to buy property, it has been predicted.
Editor of Property Investor News Richard Bowser said that the recent base rate cut to a new record low of 0.5 per cent marked the end of the process of using monetary policy to try to stimulate the sector.
Now, he suggested, taxation will be the main tool used, commenting: "It is likely that from a fiscal point of view, for a year or two, the government will announce in the Budget a whole series of incentives."
This will be part of an effort to throw "the baby and the bath water" at the issue to try to improve matters.
Such a development could help those seeking legal advice on proceeding with property acquisitions.
One fiscal measure used might be a change to stamp duty regulations.
The Association of Mortgage Intermediaries recently called for the levy to be scrapped on residential property.
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