The Mail Online quotes David Gregory on the mini budget and changes to the real estate industry
Chancellor of the Exchequer Kwasi Kwarteng has delivered his "mini Budget", the first major fiscal intervention from new PM Liz Truss's government aimed at helping the UK economy.
David Gregory, Associate, provides comment for The Mail Online, This is Money and CoStar on the changes announced for the real estate industry. He comments:
"It is currently unclear how far-reaching and long-lasting the exemption for business rates in investment zones will be.
However, the Chancellor appears to have stopped short of increasing the threshold for small business rates relief, meaning existing occupiers will be largely unaffected by this announcement. This is likely to be a blow for small businesses who were hoping for additional support at a time when high inflation is leading to higher rates, particularly in London and other urban centres.
Overall, this is a step in the right direction, but further support for existing occupiers may be needed and, in the longer term, larger scale reform of the business rates system."
Read the full article in The Mail Online here.