Following yesterday’s budget from Chancellor Rachel Reeves designed, in her own words, to plug the £22 billion hole in the country’s finances, she said Labour wanted to “deliver on its commitments to make the tax system fairer and raise revenue to fund public services”.

Here Nick Lyons (main image), chief executive of inventory experts No Letting Go give his view on the measures announced yesterday by her.

"The Chancellor put economic stability at the heart of her agenda and if that means low inflation and lower interest rates, that will help everyone in the property sector," he says.

"It was good to see that landlords escaped the predicted increase in Capital Gains Tax but they didn’t get away scot-free and the rise in Stamp Duty to 5% may mean that some of them decide not to increase their portfolios.

"Having said that, the increase in CGT on other assets may mean investors might be tempted to look at residential property as a better option.

Minimum wage

"For letting agencies and the enormous number of small suppliers that agents all depend on so heavily are all very heavily people dependent, so the increase in the minimum wage and the rise in employer NI contributions will have a massive effect.

"This will inevitably be passed on to landlords or they will have to absorb the costs.

"I suspect that some of the smaller players will reconsider whether running a small business is worth it. I think that some businesses may also look to technology to aid expansion instead of taking on additional staff."