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Tag: HM Treasury

Has the Office for Budget Responsibility misread the housing market?

Has the Office for Budget Responsibility misread the housing market?

There seems to be a fair chance the Office for Budget Responsibility’s view of the housing market may be badly awry. Why would that be that bad? 1. Because it potentially supports a complacent attitude among policy makers towards problems within the housing market. 2. Because it may well leave the Chancellor a few billion pounds light on stamp duty in a few years time. But before galumphing into why the OBR may be wrong it’s worth making a couple…

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Forecasters expect a fall in house prices in 2011

Forecasters expect a fall in house prices in 2011

We are beginning to see the end of year-ish reading of the runes for the housing market result in a series of forecasts for price movements in 2011. On balance the forecasts point to a drop, mainly on the back of fears over unemployment rising along with concerns among some economists about the start of rising interest rates in the year. Here is a selected list of recent forecasts listed from the more bullish to more bearish, with their last year punts…

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Little cheer in public accounts or growth figures as construction prepare for the big squeeze of 2011

Little cheer in public accounts or growth figures as construction prepare for the big squeeze of 2011

Today’s release of the public sector finances will be a knock to the Chancellor George Osborne as they show borrowing up more than expected. Indeed at £23.3 billion (net of any financial interventions) in cash terms that is the most the UK has had to borrow in a month ever, at least as far as I could see. And tomorrow we will most likely see the official statistics for UK economic growth in the second quarter revised down – probably…

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Budget figures confirm the urgent need for new sources of investment in construction

Budget figures confirm the urgent need for new sources of investment in construction

As if in compensation for all the anticipation before and excitement during the Budget announcement, we are left with the dull thud back to reality afterwards. Certainly, for construction the Budget itself changed little of substance. Alright the first-time buyer stamp duty holiday was an eye-catching cheeky move. But we all know its greatest impact will be in 20 months time when we will see a flurry of activity by those who don’t want to miss out on potentially saving…

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