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News Release

Cardiff

Jones Lang LaSalle responds to Chancellor’s Autumn Statement

Relief for housing and the High Street but more needed to support development


Cardiff, 5th December 2013 – Reacting to announcements made in the Chancellor’s Autumn Statement earlier today, Chris Sutton, lead director at Jones Lang LaSalle’s Cardiff office said:
Chris Sutton
"Whilst it’s a great relief to see the much predicted improvements to our economic prospects, businesses need to ready themselves for better times so greater support for development would have been useful, ensuring property supply moves in line with increased demand.

"The challenge of addressing the need for new employment property and re-invigorating the construction sector is an issue for both national and devolved government. Indeed, the draft Planning Bill announced by Welsh Government this week will arguably offer the best 'supply side' solution.

“The Chancellor's decision to cap the Uniform Business Rate and extend the Small Business Rate Relief scheme will both help the High Street and the wider property market. We now look to the Welsh Government to replicate these changes to ensure a level playing field for the property market in Wales.”