Budget 2026 reactions: Is the government on the right course?
Summary
The article reports mixed industry reactions to Chancellor John Healey’s Budget, with many welcoming greater fiscal devolution, business rates retention, and new housing-related measures, while warning that delivery and implementation will determine the real impact. Commentators also highlighted proposed VAT zero-rating for land sold to registered social housing providers from 1 April 2027, alongside concerns about the need for clear legislation and sufficient local capacity to turn policy into homes and regeneration.
Why it matters
For residential property surveyors, the Budget signals potential changes to development viability, regeneration pipelines, and local decision-making that may affect project appraisal and delivery. The VAT and planning-related measures could also influence land transactions, scheme structuring, and the pace of housing supply in the North and beyond.
Key points
- Greater fiscal devolution and local retention of tax revenues were broadly welcomed.
- Smaller brownfield sites may be exempt from Biodiversity Net Gain requirements.
- VAT zero-rating for land sold to registered social housing providers is proposed from 1 April 2027.
- Industry voices stressed that legislation and implementation details still need scrutiny.
- Several commentators said the main test will be whether councils and mayors can convert new powers into delivery.
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