The Budget 2008
April 29, 2008
This years Budget Report from the HM Treasury is set out for change. It contains the Governments plans for medium-term economic position and its tax and spending plans. It comes at an interesting time, what with the problems of the Housing Market and prices in decline; will the new formed ideas of the Government be able to make a change to our Economy?
Included in the Budget Report is the statement “the economy is stable and resilient, and continuing to grow, and that the Government is meeting its strict fiscal rules for the public finances.” Although is this true? Current inflation in the Housing Market seems to be settling back down over the past month however Evan Davis (BBC Finance Reporter) states – “There is always a two year silly frenzy that has to be undone.” Although this has to be done through the help of the Government as well and there are no immediate passages in the Report that cover such schemes.
Hon Yvette Cooper, Chief Secretary also draws upon the factor of Globalisation, and how the UK must adapt to a stronger economy to welcome in the policies of other Countries. He highlights the importance of the Labour and Capital markets and states that these are key to making the economy more stable and cost-efficient. Linking back to the Housing Market the Report also highlights plans to make further business start-up an easier process for independent people, meaning that this may lead to an Increase in more Housing related businesses being formed.
Especially hopeful are those involved in buying property and renting it out as a Hotel or Home, the Governments plans to make this an easier process should allow some change to be made to the Housing Market, and may bring a change to the inflating prices on property. Although there are concerns that this change will be minimal, and that the plans proposed in the Budget Report are certainly not enough to bring an end to the Housing Market troubles.
If you would like to discover more about how the Budget Report 08 can help you, focusing especially on the above themes, phone 020 7270 4558 and ask for information about ‘Enterprise: Unlocking the UK’s talent’.
