Business round-up - 03/09/08
A daily round-up of business news.
Tax axe to help house market
The average home purchased in Preston will be exempt from stamp duty for the next year as the Government bids to revive the city's flagging house market.
Chancellor Alistair Darling yesterday announced a 12 month stamp-duty holiday for any home bought for 175,000 or less.
The move, which will cost the taxpayer 600m, is likely to be a huge boost for first time buyers in Preston, where the average house price is currently 136,253.
Latest figures from the Land Registry show that the average home costs 173,993 in Wyre, 173,937 in Chorley, 164,119 in South Ribble and 157,208 in Lancaster.
Any house sale between 125,000 and 250,000 currently incurs stamp duty at 1% of the value of the property.
Some first-time buyers in Lancashire will therefore save up to 1,750 thanks to the government's tax suspension, which comes into effect today.
Profits soar at boiler makers
The Baxi Group has seen its profits and sales rise despite facing challenges in its European businesses.
But the firm, which employs 600 people at its site on Club Street, Bamber Bridge, near Preston, said its UK performance has propped up the group in the second half of the year.
It saw profits rise 51% on last year to 28.3m with UK profits rising 500,000 in the last year to 5.5m.
Store's 6m refit unveiled
The 6m new look of one of the biggest names on Preston's high street will be unveiled tomorrow.
Marks and Spencer, on Fishergate, boasts a bigger cafe, a refurbished food hall, and bigger ranges of products including in its food and technology ranges.
There will be complimentary glasses of champagne for all shoppers.
Security firm's 1m turnover
A security firm is to break the 1m barrier in its turnover just four years after it was set up.
Kudos Group, of Worden Park, near Leyland, credited its success to people's fear of crime.
The firm carries out manned security and training.
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Weather for Preston
Wednesday 23 May 2012
Today
Sunny spells
Temperature: 11 C to 18 C
Wind Speed: 13 mph
Wind direction: North west
Tomorrow
Sunny spells
Temperature: 14 C to 19 C
Wind Speed: 8 mph
Wind direction: North west
