"Rachel Reeves is poised to unveil a package of planning reforms and tax increases in her first full Budget on 26 November, as the Chancellor faces the daunting task of closing a £30 billion shortfall in the public finances. The Treasury is said to be exploring a range of measures to stimulate growth while raising revenue, including restoring the bank surcharge to 8 per cent-a move expected to generate around £2 billion annually."
"According to reports in The Guardian, the proposals could prevent judges from overturning approvals while legal challenges are still being heard and limit repeated reviews of the same project. However, such amendments risk complicating the Bill's passage through the House of Lords, where peers may push back on curbing environmental safeguards. A government spokesperson said the reforms were vital to "build the 1.5 million homes hardworking people need" and accelerate major schemes such as the Lower Thames Crossing."
The Chancellor will present a Budget on 26 November to address a £30 billion public finances gap using a mix of growth measures and tax rises. The Treasury is considering restoring the bank surcharge to 8% to raise about £2 billion annually and examining ways to widen the VAT base. The OBR may view planning reforms as a long-term growth boost, potentially adding around £3 billion. Proposals aim to simplify approvals for low-impact developments and curb repeated judicial reviews, while ministers stress the need to build 1.5 million homes and speed major schemes. Further revenue measures are expected.
Read at Business Matters
Unable to calculate read time
Collection
[
|
...
]