Southampton: Treat upbeat forecasts with caution, advises JLL

In response to the UK Budget 2017 announcement, Emma Eaglestone, head of JLL’s Southampton office, said: “The Chancellor’s more upbeat economic forecasts should perhaps be treated with caution as the effects of leaving the EU are yet to be felt.

“The announcement that business rates will be reformed is, on the face of it, welcome news. However, businesses will be frustrated that they have been told they will have to wait until the next revaluation in 2022 before any real changes are made. This is far too little too late and business will conclude that Mr Hammond was not listening after all. This is a missed opportunity to implement the changes that are urgently required.

“We welcome the announcement of a new £690 million competition which will allow local councils to bid for funding in order to tackle urban congestion. This is an issue which is holding back many regional towns and cities and we look forward to hearing more details on this.”