Episode 72: UK budget - what does it mean for Dubai?

Steven and Luke welcome back seasoned investor Minesh, who is selling up his UK assets and reinvesting in the UAE. Together, they discuss what the UK government budget means for local and overseas landlords and how these economic changes may influence property investment decisions in Dubai.

What was said in the latest UK annual budget?

The UK government’s 2024 Autumn Budget set the tone for key economic policies affecting property investors. With increased focus on balancing fiscal responsibility and economic growth, the budget highlighted:

✔ Adjustments to income tax thresholds
✔ Revisions to Stamp Duty Land Tax aimed at supporting the housing market
✔ Measures to encourage green investment and infrastructure development

These moves have direct implications for landlords and property investors, particularly those managing assets from overseas or considering relocation.

The 2025 Spring Statement update

The most recent Spring Statement, delivered on 26 March 2025, is not a full budget but provides an economic update. According to GOV.UK, it focused on financial stability and growth through forward planning rather than new tax policies.

Key points include:

• No new tax policy announcements: the government maintained the existing tax framework.
• Focus on financial stability and sustained economic growth through forward planning instead of immediate changes.
• Upgraded economic growth forecast with GDP expected to grow by 1.9% in 2026.
• Increased defence spending by £2.2 billion to reach a target of 2.5% of GDP.
• Investment in skills and infrastructure, including funding for Technical Excellence colleges, affordable housing and infrastructure projects.
• Ongoing consultations on tax policies released, building on announcements from the Autumn Budget 2024.