The following comments were made by Martin Guest, managing director of the Birmingham office of CBRE in response to the Budget:
Regional Devolution:
“Finally we can put a price on regional devolution. In exchange for electing a mayor, Greater Manchester will get new powers over skills, transport and health budgets. In addition, the Chancellor has awarded them “100 per cent of the additional growth in local business rates as we build up the Northern Powerhouse”.
“Surely this enough of a carrot to push local authorities in the West Midlands into concord?
“If not, may be the Chancellor’s handful of references to the ‘Northern Powerhouse’ will convince the naysayers. We can’t afford to be left behind with other UK regions accelerating at our expense.”
Business Rates:
“The Chancellor reiterated Danny Alexander’s pledge earlier this week that the government would, after years of lobbying from the property industry and business, review the Business Rates system.
“Regrettably, there was no further detail in this Budget. The complex overhaul required looks to have been parked until after the general election.”
