Autumn Budget 2021: The key points



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In today’s Autumn Budget (27th October), chancellor of the exchequer Rishi Sunak outlined the government's economic plans.

According to the chancellor, today’s Budget increases total departmental spending over the parliament by £150bn.

The key points of the Budget impacting the property and specialist finance markets included:

  • £11.5bn allocated to help build up to 180,000 new affordable homes, with 65% of funding for homes outside London
  • £1.8bn fund to support the delivery of housing on brownfield sites across the UK
  • £5bn committed to remove unsafe cladding from high-risk buildings, funded by a 4% rate Residential Property Developer Tax on developers who have an annual profit of £25m or more
  • £3.9bn to decarbonise buildings, including £1.8bn to support tens of thousands of low-income households to make the transition to net zero while reducing their energy bills
  • over £1.6bn for the British Business Bank’s (BBB) regional funds to provide debt and equity finance to SMEs
  • the extension of the Recovery Loan Scheme until 30th June 2022
  • an additional £65m investment to improve the planning regime, through a new digital system to ensure more certainty and better outcomes for the environment, growth and quality of design

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