With little fiscal space to play with, the next government will have to get creative in order to deliver on its manifesto pledges. Labour’s plan to change the law so that the state receives more of the massive windfall from the increase in land values when planning permission is granted is a good example of this, and means it might be more successful in reaching the housebuilding target than the current administration has been.
Next Thursday the Bank of England is likely to follow in the footsteps of the Fed rather than the ECB by keeping interest rates on hold. We will be offering our take on all three of the major DM central banks’ June policy decisions in an online drop-in at 3:00pm BST on Thursday 20th June. Register here.
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