Lower growth forecasts, due to lower productivity, may look like gloomy news for retailers if it translates into lower wage growth and weaker consumer spending, but continued optimism around employment growth is good news for future demand for office space.
Whilst the Chancellor continues to be the target of much criticism for his latest cuts to disability benefit, many SMEs will be relatively happy with the budget’s reforms on business rates. The new stamp duty rules will also assist smaller property owners, but overall set to boost the Treasury’s income by around £500 million.
