BMA Budget Response

“Overall this was a positive budget for business. The income tax changes wil give a boost to consumer confidence which could translate into money being spent on home improvements.

"There were also several welcome initiatives for small business, the cuts in business rates, a reduction in the apprentice levy and a refocus of the employment allowance.

“Housing also featured in this budget with extra funds for the Housing Infrastructure Fund and new partnerships with Housing Associations. As we have seen with previous budgets it will take more than government initiatives to make a real difference to the housing market but with the brighter outlook for growth and jobs, things could improve.

“The Chancellor did introduce a tax on plastic.   Whilst he chose not to tax plastic cups this time, he announced a new tax on the manufacture and import of plastic packaging that contains less than 30 per cent recycled plastic.  This could be significant for many bathroom manufacturer and the selection of materials, re-use and recycling of packaging materials is a topic that we have already raised with our members, and will be focusing on in the future.

 “However the elephant in the room remains Brexit and it remains to be seen what impact the  Brexit deal will have on the economy,  and if the chancellor has done enough to support any aftershocks of a no deal exit.”