BPF publishes commentary on 2024 Autumn Budget

Article summary

The British Property Federation (BPF) has published a blog post as part of its Spotlight Series, providing commentary from the BPF’s Assistant Director of Policy (Finance), Rachel Kelly, on the implications of the 2024 Autumn Budget for the property sector. Kelly outlined the BPF’s recommendations to the government ahead of the Budget on 30 October 2024, including reforms to business rates, support for energy efficiency retrofits, and tax changes to facilitate institutional investment in new homes. She emphasised that, with the appropriate tax and regulatory environment, the Build-to-Rent (BtR) sector’s contribution to housing supply could potentially double from 15,000 to 30,000 new homes per year, calling on the government to reinstate SDLT Multiple Dwellings Relief for BtR. In addition, she urged the government to take steps to transform business rates into a form of Land Value Tax.