THE Royal Institution of Chartered Surveyors has welcomed the Chancellor's decision not to reduce capital spending beyond the cuts announced in the March budget but warned of wider implications for the property sector.

RICS said the construction industry was a powerful engine of growth, and it had emphasised in its Emergency Budget submission that any further cuts in capital spending would have undermined the tentative economic recovery.

"This Budget had to address the UK's structural deficit, and there will undoubte......for the full story register now for free or login below...