· SUSTAINABILITY
David Eynon, Senior Sustainability Advisor of Colliers South West, said: “The environmental and sustainability sectors have high hopes from the Budget but measured expectations. George Osborne’s recent comments about delivering a ‘no gimmicks’ budget leads us to not anticipate any particularly radical announcements to be made with regards to the environment. This, along with huge uncertainty around the result of the forthcoming General Election means that we expect the budget to stay very much ‘on message’ by focussing on the Coalition’s long-term economic plan to consolidate the recovery.
“However, the recent signing of a cross-party declaration to work together on national carbon emission reduction is a positive step forward for the wider sustainability agenda. The Budget provides a prime opportunity for the Chancellor to move environmental policies closer to the heart of the agenda for the next Government – whatever it may look like. Any measures introduced will send a strong signal about the nation’s approach to sustainability on a global platform as it prepares for COP21 – the international climate change conference – in December.”
· OFFICES
James Preece, National Offices Director of Colliers South West, said: “I hope that the Budget will extend the Annual Investment Allowance of £500,000 for another year. This will help encourage businesses to invest in expansion and spend money on upgrading and modernising their premises. Businesses in the office market need a budget that is going to keep the positive momentum going.”
· HOTELS & LEISURE
Simon Wells, Hotels Director of Colliers South West, said: “There are major reforms to the pension system from April 2015 which enables over 55s to access their entire pension pots. These changes will open the door for those who wish to be entrepreneurial but who have not had the cash to invest in their own business. The Government’s Pension Wise campaign promotes using investment cash in a different way to suit the needs and aspirations of those who are 55 and over.
“If you add the pension pot to the equity in a house or borrow additional funds, all of a sudden you’re free to build a different future which could mean buying a B&B, hotel or other leisure business. This has got to be a great option instead of 10 more years of just filling the pension pot.”
