News
Exmouth RegenerationThere has been no shortage of ideas for how Exmouth should develop over the years. Many have been suggested way before the lap top on which this newsletter is being typed was invented. Yet much of Exmouth has stayed the same as it was in the 50s if not before. We live in changing times and the only development that has occurred in the town is residential sprawl with few new facilities. The sports centre was created some 20 years ago with local contributions but even that is dated by modern standards and the tennis centre is a fine facility but a specialised one. There is no doubt that a town of 34,000 can and should expect more for its future.
High hopes for stamp duty cuts for land owners
Property owners will be among those hoping to see changes to the way stamp duty is imposed in this week's Budget.
Under the current arrangements, anyone selling a home worth over £250,000 has to pay three per cent of the sale price to the Treasury.
A home that sells for as little as £1 underneath that threshold will only incur a levy of one per cent.
David Stubbs of the Royal Institute of Chartered Surveyors (RICS) is one of the many critics of the current system.
"There is no reason for stamp duty as it is," he said. "The slab system means that if you move only one pound from 249,000 to 250,000 you could be slapped with a huge bill.
"It should be changed to a marginal tax in line with other taxes."
The chancellor increased the stamp duty threshold in his 2005 Budget, but critics note that even that increase has failed to put the tax in line with house price inflation.
Devon affordable housing a stretch to far for developers
PLANS for more affordable housing across rural Devon could be jeopardised, according to housing experts.
Future support for the Defra-funded rural housing enabler programme is currently being withheld - while officials in Whitehall finalise budget details.
This, according to members of the Devon Rural Housing Partnership, could have a catastrophic affect on Government's targets.
Anne Harries, chair of the housing partnership, said: "We are deeply concerned that funding uncertainties could jeopardise the building of houses for people in greatest need in our rural communities.
"On one hand the Government is challenging us to build more new homes, but on the other they are taking away our ability to do this."
The Government has developed 500 new homes in Devon over the last year and has set a target of 400 more over the next three years but, unless a rescue package can be developed, these plans could be at risk.
A statement from the Devon Rural Housing Partnership said: "Delays in Government funding spell particularly bad news in a county where typical house prices are now 14 times higher than average incomes, and over 21,000 households are on local authority waiting lists."
Members of the housing partnership have written to the Prime Minister, senior Government ministers and local MPs in an urgent attempt to find a solution. They are also trying to develop a package of local bridging funding to keep the Devon RHE programme afloat.