Topical Issues - Potential Questions Flashcards
What is the current Bank of England Base Rate?
5.0% as of August 2024
When is the next Base Rate review expected to take place?
19th September 2024
As of August 2024, what was the current rate of inflation?
2.2%
When is the Autumn Budget taking place?
30th October 2024
What is The Budget expected to be focused on?
Significant tax changes and measures to raise revenues for the government
How many new bills did the Kings Speech on the 17th July include?
39
What did the RICS remind all members of regarding valuation?
That all members of the mandatory requirements for members engaging in valuation to adhere to the compliance requirements
When did consultation open for the proposed changes to the revised Red Book Global Standards? And when is it scheduled to be published?
Consultation opened on 2nd August.
The new Red Book Global Standards are set to be published in late 2024, with a transition period before it becomes effective on 31st January 2025
What have the IPMS standards been replaced with?
IPMS: All buildings 2023
Name some of the proposed changes to the Red Book Global Standards 2021?
RICS valuation review recommendations - new content on modelling, methods and risks.
Practice and process changes from evolving areas such as technology
Integration of the new international valuation standards (published on 31st January 2024)
When were the proposals for the reform of the NPPF published?
July 2024
When does the consultation period for the reform of the NPPF end?
24th September
What is the target that the new labour government has set around housing delivery?
370,000 new homes per year
What are the three pillars that the consultation of the NPPF is mainly around?
Stability, Investment & Reform
Explain the new brownfield approach that Labour have introduced?
They have adopted a brownfield first approach where land is to be released, with an emphasis on sustainable locations, with priority given to PDL.
