The measures announced by Jeremy Hunt with the biggest potential impact for construction

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Key budget measures at-a-glance

  • £240m to build nearly 8,000 homes in east London – at Barking Riverside and Canary Wharf, alongside a new life sciences hub. 
  • £20m investment in social finance to build up to 3,000 community-led homes and £4m for the Euston Housing Delivery Group to support plans to deliver up to 10,000 new homes around the HS2 terminus.
  • Further funding of up to £120m for the Green Industries Growth Accelerator to support the expansion of low-carbon manufacturing supply chains across the UK
  • A cut in the higher rate of Capital Gains Tax for property disposals, reducing it from 28% to 24%.
  • Increasing the VAT threshold for businesses from £85,000 to £90,000 
  • Approval for the next section of East West Rail, accelerating work to allow services from Oxford to Bedford to run by the end of the decade
  • £400m in new investment to extend the Long-Term Plan for Towns to 20 more places, including Darlington, Rhyl, Carlton, Peterhead, Coleraine and Eastbourne
  • Confirmation that a new development corporation in Cambridge will receive funding from the next spending review, plus £10.2 million to support the Cambridge Biomedical Campus
  • Great British Nuclear will begin the next phase of the Small Modular Reactor selection process, with six invited companies being given until June to submit initial tender responses.
  • A second round of the Local Nutrient Mitigation Fund, designed to help restart schemes totalling 30,000 homes stalled by the nutrient neutrality crisis
  • £3m to match industry funding for a programme to attract more planners to take up roles in local authorities
  • A commitment to fund the extension of the National Film and Television School in Buckinghamshire, to offer up to 200 new apprenticeship places a year – subject to a business case that demonstrates value for money

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