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News Release

JLL Southampton responds to Autumn Statement

​SOUTHAMPTON, 23rd November 2016 – Michael Green, head of JLL’s office in Southampton, said:

“This was a macro-economic statement but there were some important messages from the Autumn Statement for the regions, including the South. Hammond acknowledged that Britain’s economic prosperity is too heavily focused in London and the South East and the announcement of funding for the regions and Local Enterprise Partnerships is encouraging. Together with the announcement of new borrowing powers for the regions, the building blocks are being put in place to create a more balanced economy.

“We welcome the investment in infrastructure as this is key to creating a competitive economy. However, details on how the money is to be spent has not yet been released and, until we see this, it is hard to make an informed judgement on how the effects will be felt in our local and regional economy.

“Plans to introduce 100% business rates relief on new fibre is also good news as this will essentially incentivise the development of new fibre optic broadband infrastructure, which is an important step in establishing the UK as a world leader in the digital economy.”