Spring Budget 2024: SMEs deliver their verdict

Dariusz Karpowicz, director at Albion Financial Advice:

“This measure aims to stimulate the housing market by encouraging more transactions, with the expectation of increased revenue.

“While this tax cut represents a step in the right direction, addressing the broader issues plaguing the UK’s housing market requires a more comprehensive and bold approach.

“The reduction in capital gains tax, though beneficial, is unlikely to be a panacea for the challenges faced by many seeking affordable housing.

“The UK’s housing crisis, characterized by high prices and a shortage of affordable homes, necessitates a multifaceted strategy that goes beyond tax adjustments.

“To truly transform the housing landscape, more innovative and courageous reforms are needed, targeting the root causes of the crisis.

“This could include measures to increase the supply of affordable homes, improve the accessibility of financing, and ensure a fairer distribution of housing resources.”