Budget Facts We May Have Missed!
- We all listen to the basics in the budget but did you listen to the end. Here are a few important details some of us may have missed.
- Reforming the planning regime, including establishing a powerful new presumption in favour of sustainable development so that the default answer to development is "yes"
- Opening up more land for development by removing nationally imposed targets, while maintaining the greenbelt
- Piloting new land auctions, starting with public sector land
- Streamlining planning applications, including a 12-month guarantee for processing all applications and appeals and a fast track for major infrastructure projects
- A consultation on proposals to make it easier to convert commercial premises to residential
- Scrap proposals for specific regulations which would have cost business over £350m a year, including not extending the right to request time to train to businesses with fewer than 250 employees and not bringing forward dual discrimination rules
- A moratorium exempting micro (fewer than ten employees) and start-up businesses from new domestic regulation for three years from 1 April 2011
- An extension of capital allowances short life asset regime for plant and machinery from four to eight years, from April 2011, to bring forward investment in new equipment;
- 11 Enterprise Zones across England, with simplified planning rules, superfast broadband and tax breaks for businesses, with local areas to bid for a further 10
- A new £250m scheme that, in England, will offer over 10,000 first time buyers an equity investment of 20 per cent towards the deposit on new-build homes and reforms to the stamp duty land tax treatment of 'bulk' purchases of residential property
- An increase in capital available to the Green Investment Bank to £3bn
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