Brickmakers should be encouraged by last month’s Budget, which outlines a number of measures designed to stimulate the housebuilding industry, according to John Richards, sales and marketing director of Ibstock, the UK’s largest brickmaker.
The Budget included the investment of £500m to restart frozen building projects, the extension of the stamp duty holiday and £80m for shared equity mortgage schemes.
“The construction sector represents over 6% of the total UK economy, so it is only right that the budget should put a strong focus on trying to kick start the industry,” Richards says.
“We are also very encouraged by the Chancellor’s decision to provide a £100m package for local authorities to spend of energy-efficient housing developments. This investment is a demonstration of a long term environmental commitment on behalf of generations to come and will ensure future cost savings through reduced energy consumption.
“Brickmakers must be encouraged by this new budget and will be keeping one eye on the longer term to ensure brick continues to offer housebuilders and developers a viable, affordable and sustainable solution for modern construction, regardless of economic conditions.”