Autumn Statement 2015 roundup: From London Help-to-Buy to potholes, here’s everything the chancellor announced today
There weren’t many surprises in today’s Autumn Statement – from housing to the Northern Powerhouse, we were fairly well-versed in the measures included. Indeed, shadow chancellor John McDonnell’s decision to quote Mao ZeDong in the Commons may have been more eyebrow-raising than any of George Osborne’s measures.
Landlords once again found themselves punished, with a new three per cent hike in stamp duty for owners of buy-to-let homes, while retailers were celebrating as uniform business rates were abolished.
First-time buyers were a little better catered for, with a London version of the popular Help-to-Buy scheme, as well as a Help-to-Buy for shared ownership.
Meanwhile, pensions savers had a welcome break from the raft of changes announced in the previous few Budgets. Although Francois Barker, head of pensions at law firm Eversheds, said the relief may be short-lived.
“The fireworks have been reserved for next Spring with the Treasury confirming that the response to its consultation of reforming the current system of pensions tax relief will be published at the next Budget.
“The outcome of that consultation will have a major impact on the future shape and direction of the pensions industry and the adequacy of retirement savings so all eyes will be on the dispatch box next spring.”