In a bid to encourage more people to live and buy in Britain, the Government has announced that they will be devising new building rates in order to give building societies and developers incentives to increase their supply of affordable houses. The Building Rates policy will force councils to offer higher rates to house building companies if they deliver development projects on time and in the correct way. This is set to be introduced into law at an earlier date, and could see up to a 10% increase in rates being offered to new builds across the UK. If you are a builder looking to expand your business and provide homes for local residents to enjoy living in, it may be time to start looking at building rates as a means of making your profit.
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