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Story Homes’ thoughts on the March 2016 Budget

March 2016

Story Homes’ CEO Steve Errington comments on what the March 2016 budget means for the industry:

“As an industry, we welcome the impending reduction of corporation tax to 17 per cent by April 2020. We have progressive growth plans at Story Homes and less taxation will mean that we have more to invest in our workforce as we continue to expand. The reassurance that the Government is continuing to support business growth is encouraging.

“The Chancellor’s proposed simplification and acceleration of the planning processes the housebuilding sector is subject to is also very well received news. Knowing that the Government is committed to addressing delays that housebuilders across the country are facing is promising. We also value the Budget’s collaborative approach with local authorities to release more land for housebuilding.

“Increased and diversified support for starter homes is sure to be great news to the rising number of young people that are keen to get on the property ladder. The commitment to more funding to repurpose wasted brownfield sites is a positive start to this, although we are yet to hear how the Homes and Communities Agency and local authorities are expected to manage this funding in more depth.

“We are pleased to hear that the Government is taking prospective homeowners’ futures seriously. The introduction of the Lifetime ISA will no doubt encourage more people than ever to save for a deposit towards their first home. The continued support from the Government in the form of contributions towards annual savings will be music to many ears and so we echo yesterday’s sentiment – everyone deserves the right to own a house to call home.”