Agents’ trade body Propertymark has made a plea to Chancellor John Healey to help the housing market.
In a response to his speech at Labour’s annual conference, Timothy Douglas – Head of Policy and Campaigns at Propertymark – says: “When people move house, they stimulate the wider economy through their use of services, purchases of goods and engagement with local trades.
“In the Budget next month, the Chancellor must focus on lowering taxes, supporting the property sector and giving all generations hope through housing as well as allowing the property sector to be a catalyst for economic growth and revival that we know it can be.”
Healey’s long-awaited conference speech actually gave little away about his intentions in government.
He warned against allowing Britain’s benefits bill to balloon while not offering young people opportunities, and said cutting welfare spending was “more than an economic must – it’s a moral duty”.
However, few details of any kind emerged, except for the expansion of a Local Apprenticeships Service, to be overseen by mayors in England, and which Healey said would deliver thousands more apprenticeships for young people.
There was no reference to housing save for including the Renters Rights Act as one of the achievements of the Labour government’s first two years.
Propertymark’s Timothy Douglas says: “The Chancellor quite rightly talked about jobs for young people, breathing space and hope, but little mention of reducing taxes and costs for home buyers and sellers, renters and landlords. The property sector contributes over one billion pounds to the UK economy and supports millions of jobs.”
This article is taken from Landlord Today