A shock to the system?
The new chancellor unveiled his ‘mini-budget’ last week, and it made quite the impact. Whether it’s for the better or worse, is up for debate.
Big tax cuts sound great at face value, whether you’re a business or an individual, but the money has to come from somewhere. Concerns over the nation’s borrowing, debt and a worry about how high interest rates will rise, have thrown the markets into a bit of a panic and the value of the pound has taken a hit as a result – all of which has implications for the cost of living.
One potential positive is the reduction in stamp duty. Not that the property market needs much more stimulation, but higher property values should help to give homeowners even greater confidence to invest in their property.
Investment, for example, in new energy efficient windows and doors to help with the heating bills.
But has the government missed a trick by not introducing a VAT cut on energy efficient products, a move that could have incentivised a lot more people to improve their homes?
Ryan Johnson, managing director of Emplas certainly thinks so…you can read his open letter to the industry here.