The Welsh Government’s 2026–27 Budget, approved by the Senedd on 27 January 2026, includes extra support for councils, changes to business rates from April 2026 and more funding for Green Home Wales, but key opportunities were missed to support rental supply and first-time buyers.

The UK’s first female Chancellor of the Exchequer, Rachel Reeves, MP, delivered the first Labour Budget for 14 years on 30 October 2024, announcing tax increases worth £40 billion. Whilst agents will be relieved not to see a hike in Capital Gains rates, it is disappointing that the reversal of Section 24 and support for property owners to meet Minimum Energy Efficiency Standards have been overlooked. It is also a missed opportunity to give structured support to first-time buyers and downsizers to boost consumer confidence.

Finance Secretary Shona Robison, MSP, missed the opportunity to take action on the housing emergency in Scotland as she gave her Budget Statement on 19 December 2023. Spending on housing will fall by more than £200 million for the next financial year.

A new Non-Domestic Rating Bill has been introduced to incentivise property improvements and support more frequent revaluations to deliver reforms in the commercial sector.

Cutting taxes is the key theme of the Spring Statement delivered by The Chancellor, Rishi Sunak, and VAT on the installation of energy-saving materials in residential properties will be cut to zero per cent.

HM Treasury has released its ‘Tax Day command paper’ designed to allow further scrutiny on tax announcements that would normally take place during the budget.