With tomorrow’s Budget 2020 set to be the first since leaving the EU, everyone is waiting to see whether there will be any new policies announced which will affect the Lancaster property market.
The newly appointed Chancellor of the Exchequer, Rishi Sunak has been given carte blanche for radical reform of taxes and public spending, thanks to the massive Conservative majority in the last election.
It is believed that headlines for the housing market will include changes to Stamp Duty Land Tax, support for first-time buyers and house-builders and a continuation of reforms for the private rental sector.
It’s also likely that the Budget will include plans for protecting the nation and the economy during the coronavirus outbreak.
The Budget speech will start around 12.30pm. They normally last around an hour, however the longest was by William Gladstone in 1853, taking 4 hours and 45 minutes! 2019 was the first year in over a century without a Budget.