The Budget will be a missed opportunity to win the support of the property industry, Ezra Nahome, our CEO, said today.
A caretaker’s budget: missed opportunity for helping commercial property
Ezra said: “We are not predicting any announcements from the Chancellor that will bring significant benefits to the commercial property industry such as the return of empty rates relief. In this sense, the Budget will be a missed opportunity to win the support of the property industry.
"I suspect that the focus will very much be on reducing our huge national deficit, but as a pre-election budget, it will have to avoid any major upheavals which would destabilise an already weak sterling.
"I predict a caretaker’s budget from a caretaker government, and that the real future of our industry will largely be revealed in the first post-election budget later on in the year.”
Ezra will discuss the recovery market in Property Week’s webcast next week
Nahome is one of three industry experts discussing the recovery market in Property Week’s first ever live webcast next week. He will be joined by Richard Dakin, managing director & head of corporate real estates business support at Lloyds Banking Group, and Toby Courtauld, chief executive at Great Portland Estates.
The bank, the property company and the national property advisor will participate in a live webcast debate on how property will hold through the aftermath of the recession and where opportunities can be found for those holding debt and property. The discussion will cover:
• Current face of commercial property
• Exposure to debt
• The role of valuers
• Restructuring and insolvencies