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BMF applauds Budget housebuilding priorities

BMF applauds Budget housebuilding priorities

Builders merchant trade association the Builders Merchants Federation has the Government’s prioritising of housebuilding in yesterday’s Budget.

 

Chancellor Philip Hammond delivered his Autumn Budget Statement on November 22 and said: “Successive governments have failed to build enough houses to meet the needs of those who require homes. Choosing to build sends a message to the next generation that getting on to the housing ladder is not just a dream, but a reality for their future.”

BMF chief executive John Neewcomb said: “ The BMF is pleased that the Chancellor has acknowledge the profound need to deliver and build new homes. This needs to be an unflinching, unrelenting determination by government at all levels to narrow the gap between housing demand and supply. We also want to see the Government press ahead with its proposals contained in the Housing White Paper, as this will bring a welcome boost to housebuilders and to the manufacturers and merchants in the  building materials supply chain.

 

“Access to finance, available land, more SME builders, sclerotic planning approval, slow build-out rates, over-stretched local authorities, brownfield versus greenfield, and residents’ resistance, must all be confronted and resolved. However, we welcome the new money that has been found for the Home Building Fund, for small sites, and for construction skills. In addition, we are pleased to see the lifting of the cap on Housing Revenue Accounts for Local Authorities and the immediate scrappage of stamp duty for many first-time buyers.”

About Fiona Russell-Horne

Fiona Russell-Horne
Group Managing Editor across the BMJ portfolio.

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