Economy set to bounce back by mid 2022

The economy is set to bounce back to pre-pandemic levels by the middle of 2022, with the furlough scheme extended until the end of September. The Stamp Duty Holiday, has been extended to the end of June with 0% taxation payable on main residences up to £250,000 until the end of September, offering buyers a saving up to £2,500. A new mortgage guarantee scheme will enable existing homeowners and first-time buyers to access 95% mortgages for property costing up to £600,000. 9 in every 10 sales is below this figure. Despite expectations, the Chancellor made no changes to Capital Gains Tax and there were no specific announcements affecting landlords and tenants. The establishment of Treasury North in Doncaster and the National Infrastructure Commission in Leeds is an indication of the policy shift to support regional centres.