Date Published 08 January 2024
On the 6th March the Spring Budget will be announced and now is your time as Landlords and Tenants to advise the Chancellor Jeremy Hunt on what changes need to be made. Jeremy Hunt has commissioned the Office for Budget Responsibility to prepare an economic and fiscal forecast to be presented to Parliament alongside his Spring Budget.
HM Treasury has therefore opened up its representation's portal. This means that anyone can submit their ideas for the next Budget. However, these submissions close on January 24th at 5pm, giving only 3 weeks to decide what changes you would like to see. Each representation has to take the form of a written submission with the aim of commenting on government policy and suggesting new ideas to be considered by Chancellor Jeremy Hunt.
Anyone who would like to suggest an idea should contain policy suggestions and explain the policy rationale, costs, benefits and deliverability of proposals. The Treasury has advised 'it should be evidence based, providing clear arguments on how it contributes to the aims of the Budget.'
These changes are not only being made by Landlords but also by trade bodies such as the National Residential Landlords Association and Propertymark. For the previous Budgets pro-tenant activists such as Generation Rent and the Renters Reform Alliance have also submitted their representations.
This is a chance for you to change how the Budget affects the Private Rental Sector. If you have come across any previous changes in the Budget now is your time to say.
