‘Party politics’ jibe after Osborne statement

THE policy chief of national surveyors’ organisation the RICS has taken a swipe at George Osborne’s Budget for being “more of a party political broadcast with insufficient focus on land and construction as drivers of growth”.

Head of policy of the Royal Institute of Chartered Surveyors Jeremy Blackburn also said the review of inheritance tax deeds of variation was a lacklustre measure and, combined with annuity cash releases, were likely to encourage baby boomers to downsize and bring new supply to the market.

“Rebalancing the economy across the regions is vital and we welcome the focus on 20 housing zones outside the capital and eight proposed housing zones across the rest of the UK to create the much needed 45,000 new homes,” he said.

“We welcome the city deals, enterprise zones and business rate retention (in Greater Manchester) which will create opportunities for greater property investment across the regions.”