Industry body to lobby Osborne on tax breaks...

The National Landlords Association says it is to lobby Chancellor of the Exchequer George Osborne on private rental sector tax issues ahead of the new government’s budget on July 8.

A statement from the association says: “The NLA will be taking the opportunity to drive home the message that landlords’ status as legitimate businesses is not comprehensively reflected in the tax system. Specifically, we wish to see the Chancellor tackle the tax treatment of landlords’ assets at disposal - ie, the lack of distinction between short term speculation and the appreciation which may take place during long-term ownership of property.”

Osborne himself has described the July budget as likely to contain "a laser-like focus" on raising productivity and living standards, and would outline ways in which the new government would "deliver on the commitments we have made to working people".

Writing in The Sun, Osborne says: "We will protect the NHS and give it more funding each and every year, while making savings across Whitehall. We'll crack down hard on tax avoidance and aggressive tax planning by the rich - because everyone should pay their fair share.

"Second, we've got to go on helping businesses create jobs in Britain, so we move towards full employment. That means facing a hard truth: in Britain we produce about a quarter less for every hour we work than countries like America or Germany. Fixing that long-running productivity weakness is the big challenge for the next five years. So in the Budget we'll spend less on welfare, and instead invest to create three million more apprenticeships, so that young people can learn a trade, get better jobs and earn more."