Responding to the Chancellor, Rishi Sunak’s 2020 Budget and what it means for the Bristol and the South West, Tim Davis, Head of Cushman & Wakefield’s Bristol office commented:
“With election promises and the Coronavirus dominating the agenda, the Budget promised a huge fiscal stimulus for the next five years. The highlights from an infrastructure perspective include a focus on roads, rail, affordable housing, digital connectivity and research and development. However from a regional perspective the priorities are still focused very much on Wales, Scotland, Northern Ireland and the Northern Powerhouse, giving the impression that the South West is doing ok so does not need special attention.”
“The fact that the Chancellor keeps applying sticking plasters to the business rates system, this time in widespread reliefs to smaller businesses in the retail and leisure sectors, only serves to highlight the need for fundamental reform to reflect the rate of change in the market, which will only be the hastened by the public’s behaviour in response to the Corona Virus. It will only provide a short-term impact on town centres and will do little to address the causes of the decline of the High Street.”
