Michael Green, head of JLL’s Southampton office, commented on the chancellor’s Autumn Statement.
He said: “The chancellor's support for 400,000 new affordable homes is welcome at a time when there is a dire need to expand housing construction right across the country. This Government's narrow focus on home ownership is a serious concern however. Support for the private, rented sector and social housing is vital to protect the financial stability of millions of households, for whom ownership is beyond reach.
“We welcome the chancellor’s announcement to give local authorities more powers over their budgets. The proposed changes demonstrate a radical shift and will deliver a more sustainable form of local government financing. Enabling councils to raise money for infrastructure projects through business rates should give a boost to some of the bigger projects in our region. Allowing local authorities to have more control over business rates could also incentivise them to be more business-focused.”
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