Budget 2015 - Property
Published at 14:33 PM on 18 March 2015
In response to the Chancellor's Budget statement on new initiatives to help address the housing shortage in the capital and beyond, Robert Walker, PwC real estate director, said:
"The Chancellor's announcements of new Help to Buy ISAs and housing investment show he wasn't joking about 'fixing the roof' as the sun starts to shine.
"More detail is needed behind the creation of the 20 new housing zones and investment to tackle the housing shortage in the capital. But the new Help to Buy ISAs for first-time buyers is a welcome bonus for prospective home-owners - assuming house prices don't rise in anticipation of their ability to pay more.
"Some of the questions around changes to Capital Gains Tax for non-UK residents remain to be answered. We're hoping for more clarity from the Chancellor next week in the Finance Bill.
"Overall this looks like a Budget to help lay the foundations for major house-building - not just in the capital but in the regions too."
ENDS
Caroline Underwood
PwC | Senior Manager, Deputy Head of Media Relations
Office: +44 (0) 20 7212 3097 | Mobile: + 44 (0) 7841 783907
Email: [email protected]
PricewaterhouseCoopers LLP
1 Embankment Place, London WC2N 6RH
http://www.pwc.com/
About PwC
At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 208,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.
PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details. © 2016 PwC. All rights reserved
