Responding to the Cambridge investment and property tax announcements in the Spring Budget, Philip Woolner, Joint Managing Partner at Cheffins, comments: “The further £10.2m investment announced today will provide a welcome boost to the City, continuing to enhance its world-leading medical research and science facilities as well as supporting much-needed transport improvements.

“More detail will be needed to ascertain whether the Future Development Corporation will help to deliver the new homes and lab space earmarked for the City – there are already many layers of local government hierarchy so hopefully this will not add to the complexity.

"When it comes to residential property, the cut in Capital Gains Tax from 28% to 24% is also welcome – any reduction in tax encourages property transactions, helping to maintain a healthy sales market.”