Stamp Duty Increase for Overseas Buyers:
Labour plans to raise stamp duty for overseas property buyers to fund UK housebuilding, aiming to make homeownership more accessible for British families and young people.
Trinity:The Labour government has not yet given us an indication of the increase, it could be a deterrent to foreign investors but I don’t think it will be as high as stamp duty in Singapore.
Securonomics
1. Reeves introduced “securonomics,” aiming to rebuild UK industry, boost economic resilience, and reduce reliance on global supply chains through state-business partnerships and local production of critical technologies and goods.
2. Major infrastructure planning decisions in Britain will be made nationally instead of locally to prevent important projects from being tied in years of red tape.
Trinity: This could lead to development opportunities in the UK
3. Green belt boundaries will be reviewed to prioritise brownfield and so-called “grey belt” land, which are poor-quality areas in the green belt such as disused car parks or areas of wasteland. The transport and energy secretaries will prioritise decisions on infrastructure projects that have been “sitting unresolved for far too long”
4. Labour plans to build on the “grey belt” to meet its pledge of 1.5 million new homes in five years. Chancellor Rachel Reeves said planning rules will prioritize brownfield and poor-quality green belt sites.
Trinity: I’m not overly optimistic as we’ve been promised by previous administrations. Hopefully, this will be implemented as it would significantly reduce planning timelines