Economy set to bounce back by mid-2022

Posted on Thursday, March 4, 2021

  • The economy is set to bounce back to pre-pandemic levels by the middle of 2022, with the furlough scheme extended until the end of September.
  • The Stamp Duty Holiday, has been extended to the end of June with 0% taxation payable on main residences up to £250,000 until the end of September, offering buyers a saving up to £2,500.
  • A new mortgage guarantee scheme will enable existing homeowners and first-time buyers to access 95% mortgages for property costing up to £600,000. 9 in every 10 sales is below this figure.
  • Despite expectations, the Chancellor made no changes to Capital Gains Tax and there were no specific announcements affecting landlords and tenants.
  • The establishment of Treasury North in Doncaster and the National Infrastructure Commission in Leeds is an indication of the policy shift to support regional centres. Source Dataloft, gov.uk