ECONOMY SET TO BOUNCE BACK 6 MONTHS EARLIER THAN EXPECTED

The Chancellor described the economic picture as “strong” in the short term, with the Office for Budget Responsibility expecting the economy to return to pre-pandemic levels 6 months earlier than expected (by 2022).

Key housing market announcements included funding for new homes, brownfield land and the removal of dangerous cladding, funded by a 4% developer tax (firms with profits over £25m).

To turn Generation Rent into Generation Buy, the government is building on existing commitments by confirming a nearly £24 billion multi-year settlement for housing.

The Chancellor has also promised £65 million to improve England’s planning system, including digitisation to allow easy access to local plans. Source: Dataloft, gov.uk