Housing and SME funding are two topics which are set to feature, with housing in particular a hot topic for politicians at the moment.
Both David Cameron and George Osborne revealed that a package of housing measures would accelerate home building and deliver more homes.
Whether the Summer Budget will contain any further updates on the future of schemes such as Help to Buy, Starter Homes and Right to Buy is still up in the air.
Russell Quirk, CEO of eMoov.co.uk, has highlighted the promises and problems facing the UK property market and the solutions needed to start fixing it.
"Wednesday’s Budget is an opportunity to light the touch paper to a revolution in housing supply,” said Russell.
“Not just to talk about it, but to focus on home building and to deliver supply like no previous Government has since Ted Heath’s.”
• The Conservatives, in their pre-May election pledges promised to:
• Provide 200,000 starter homes by 2020 at a 20% subsidy for those under the age of 40
• Build 275,000 affordable homes built by 2020
• Continue with Help to Buy
• Introduce Help to Buy ISAs
• Expand Right to Buy
• A £1bn brownfield regeneration fund
• Create a London Land Commission to identify publicly owned land for development
“The problem with these promises? Almost all of their manifesto’s emphasis is on fueling demand, without any action on supply and, basically, how many houses are actually built each year,” continued Russell.
“Labour’s election rhetoric pledged to build 200,000 homes each year by 2020. And the Liberal Democrats plumped for 300,000 each year and, whilst laudable and ultimately sufficient, was not accompanied by any plan as to how to achieve such an aspiration. No administration has achieved this level since 1971.”
Bob Sturges, Head of Communications at Omni Capital, said it was a feature of modern budgets that their contents were widely leaked well in advance but occasionally a surprise was sprung.
“Were the Chancellor tempted to surprise us while proving he is serious about setting a balanced and fair fiscal course he could do worse than focus on buy-to-let,” said Bob.
“Currently booming, the sector is beginning to make even conservative commentators - both big and small 'c' - nervous.
“That investors are still able to claim tax relief against mortgage interest payments is bizarre and, to many, deeply unjust.
“By removing this incompatible perk George Osborne could, at a stroke, calm the market and prove we are all in it together."
Whether George Osborne will agree with Bob is yet to be revealed but make sure you follow the B&C twitter feed tomorrow where live updates on the budget will be posted.
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