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News Release


Budget 2012: Jeremy Richards, head of Jones Lang LaSalle's Bristol office responds

Bristol, 21 March 2012 - Jeremy Richards, head of Bristol office, Jones Lang LaSalle, commented: “Today’s budget offers some good news for the region, particularly making Bristol one of the UK’s super-connected cities with a share of £100 million investment in ultra fast broadband.
“Tax breaks for the animation, video games and TV production sector are very encouraging given Bristol’s huge strength in this area. And the expansion of the Get Britain Building Fund offers new hope for several development sites in the region.
“What is still much anticipated though is the final word on the National Planning Policy Framework, now expected next week. Reforming our antiquated planning system is key to attracting inward investment into the region.”
Paddy Sykes, director in Jones Lang LaSalle’s residential team in the Bristol office commented on how the announcement impacts the residential market: “The announcements today in terms of housing are disappointing. The nature of the budget is headline grabbing with no attempt to help or address the key housing issues such as supply, mortgage lending and affordability.
“Whilst the stamp duty increase on properties over £2m is unlikely to have a particularly detrimental impact on the South West market, it is hardly going to help.”