Budget is a missed opportunity to build, says FMB

The Budget was a missed opportunity to build new homes and improve the ones we have, to make them more energy efficient, which would have stimulated economic growth across the county, says the Federation of Master Builders (FMB).

Brian Berry Chief Executive of the FMB, said:

“The Budget could have been an opportunity to kickstart the housing market with house building rates stagnant, but the Chancellor has done nothing. It was also disappointing there were no new measures to help homeowners improve the energy efficiency of their homes. This was an opportunity to reform the planning system, boost local authority planning teams’ capacities, and review the financial burdens the planning system places on smaller house builders, but again these much-needed reforms have been overlooked.”

“The Chancellor could have helped to close the construction skills gap ensuring the UK has the workers with the green skills needed to retrofit the UK’s homes, and provided support to help small builders deal with the administrative burden of training apprentices. All these areas could have grown the economy, instead builders got left behind – this Budget was a missed opportunity.”

“The Chancellor’s announcement to increase the VAT threshold for small businesses from £85,000 to £90,000 is welcome but the rate has been frozen for seven years so in real terms it makes little difference.”