It was the surprise rabbit out of the hat in the Budget from the normally grey Chancellor which will have a great welcome for all the first time buyers in Gloucestershire struggling to buy a home.
With immediate effect, those first time buyers will now pay no stamp duty at all on all homes up to £300,000 in value. This is a great shot in the arm for the Gloucestershire economy which will help young people who are struggling to buy their first home in a county where house purchase is becoming more and more expensive.
For Stroud District Council, who have just written to the Prime Minister asking for the cap on the number of council homes they can build be lifted, the Chancellor’s announcement is a big shot in the arm. It means that a lot of our young people will now be able to pursue their training and apprenticeships with Gloucestershire companies and make a life for themselves in the county which needs economically to ensure as many of our young people stay working here as possible. And it sends out a big message to all the rest of the councils in Gloucestershire to learn a lesson from Stroud and really get building.
In the Stroud district council area alone there are 5000 planning applications which have been granted but developers are holding onto the land. This landbanking by developers needs to stop and the Chancellor said so himself and threatened government intervention if necessary.
This fairly lacklustre Budget painted against a downbeat picture of the economy, should nevertheless be enough for the Chancellor to hold onto his job.