The Kbsa gave a cautious welcome to the 2018 spring statement, whilst acknowledging that the new update was short on detail and drama.
National Kbsa chair Richard Hibbert said: “The new format means that much of the meaty content will be delivered in the autumn budget but the Chancellor presented an optimistic statement with good news on employment and inflation.
“Many of the areas of interest to our sector were subject to consultations such as measures to end late payments for firms and a reduction in tax for the least polluting vans.
“We welcome the bringing forward the next revaluation for business rates to 2021, after which the government will move to revaluations every three years. There was also more money for housing and apprenticeships and training.
“Overall the Chancellor may be trying to paint a rosy picture of the current situation but we believe there is still much uncertainty and that the outlook remains challenging.”