You are here: cherry > Press releases for March 2024 > Comment on the Budget from Katie Pender, managing director of Target

07 March 2024

Katie Pender, managing director of Target, says:  “There are some rays of spring sunshine in today’s Budget. The Chancellor’s reduction in the higher rate of property capital gains tax may help the market by generating more transactions. Surprisingly, though, there is no specific help for the first-time buyer although the Budget does contain measures that could indirectly help with affordability. These include the abolition of stamp duty relief for people buying more than one property, and scrapping tax breaks which make it more profitable for second homeowners to let out their properties to holidaymakers rather than to long-term tenants to rent.  

However, the Chancellor’s support for tech is welcome, including potential reforms to unlock more pension capital and make it easier for pension funds to invest in the UK. With the mortgage industry under increasing pressure to deliver wholly digital experiences, the latest technology is essential to speed up decision-making and improve customer satisfaction.”