BSA comments on the Chancellor’s summer economic update

Following today’s summer economic update statement (8 July) from Chancellor Rishi Sunak, the Building Societies Association (BSA) makes the following comments.

Robin Fieth, BSA CEO, said:  

“We are pleased to see the temporary lifting of the Stamp Duty threshold to £500,000, especially the fact that this will happen with immediate effect. This change takes effect in England and Northern Ireland and we hope that the Scottish and Welsh Governments will consider taking a similar step.”

Colin Fyfe, Chair of the BSA Green Finance Taskforce and CEO of Hinckley & Rugby Building Society, said: 

“The step taken today as the UK Government launches its £2bn green homes grant is positive, although only a first step. It will promote the creation of very necessary jobs and raise consumer awareness about the economic and environmental value in making properties more energy efficient.

“Now we will need to show them how they do that, and what support can be offered if the £5,000 per household vouchers do not cover the full costs. Building societies are committed to play their part to help house-owners make these positive changes.”

Kindly shared by Building Societies Association (BSA)