UK Housing Market Loses Momentum as Tax Worries Surface, RICS Says
Chancellor Rachel Reeves plans to raise multiple taxes to address a £40 billion deficit amid high national debt and low productivity, aiming to meet fiscal rules in the Autumn Budget.
- Chancellor Rachel Reeves announced plans to tighten inheritance tax rules today, preventing tax-free asset gifts seven years before death.
- This tax change follows ongoing fiscal pressures, including a worsening deficit around £40 billion and high borrowing limits warned by bond markets.
- The government aims to boost productivity and growth through infrastructure investment, construction skill funding, and reforms in the Planning and Infrastructure Bill.
- GDP contracted by 0.3% in April 2025 amid shrinking manufacturing and export decline, with productivity 0.2% lower than the previous year’s first quarter.
- These developments suggest tax rises and spending reviews this autumn intend to strengthen public finances while addressing economic challenges ahead.
12 Articles
12 Articles
Rachel Reeves issued Autumn Budget warning by Bridget Phillipson after latest GDP figures: 'Much more to do'
Bridget Phillipson has welcomed the latest GDP data, but cautioned Chancellor Rachel Reeves that significant economic challenges remain ahead. Speaking to GB News, the Education Secretary said that although the figures are "better than expected", there is "still more to do" ahead of the Autumn Budget.Chancellor Rachel Reeves hailed new GDP figures showing the UK economy grew by 0.3 per cent in the second quarter of 2025, making it the fastest-gr…
UK housing market loses momentum as tax worries surface, RICS says
LONDON (Reuters) -A recovery in Britain’s housing market lost steam at the fastest pace in a year last month as some buyers worried about possible tax increases in finance minister Rachel Reeves’ next budget, the Royal Institution of Chartered Surveyors said on Thursday. Measures of buyer demand and agreed sales turned negative, the near-term sales outlook was flat and more surveyors reported house prices falling than rising, RICS said in a mont…
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