0151 353 3500   |   hello@barbour-abi.com
Barbour ABI Blog

Budget gives a much needed boost to the housing sector

by Barbour ABI Content Team

Not the most illuminating Budget, but at least Philip Hammond had a new joke writer. I actually chuckled at one of them, when I usually just want the ground to swallow me up. Gone are the days of George Osborne promising to “study the viability” of x, y or z. Hammond is heavy on detail compared to his predecessor which is to be welcomed. And he did not shy away from fronting up to the major downgrades to economic growth.

In March, the economy was forecast to grow by 2%, today it is 1.5%. Subsequent years are also downgraded demonstrating that the UK has now moved into the slow lane. But the Budget did give a much needed boost to the housing sector – £44 billion to be precise. The overall goal is to build 300,000 homes per year by the middle of the 2020s. That is ambitious in the extreme. I would imagine this will be as attainable as the budget surplus first promised by 2015, and now not even mentioned.

However, at least the issue of housing is now towards the top of the agenda, where it should have been all along. A raft of measures were announced to help the supply side (construction training, planning reforms) and the demand side (scrapping of stamp duty for first time buyers.) Essentially, the government is doing everything it can bar stepping in and building houses itself.

If these measures don’t increase housing supply in the manner anticipated will they be forced to cross the rubicon and do it themselves?

About the author

Barbour ABI Content Team

Barbour ABI Content Team

The Barbour ABI content team is a part of the Marketing department and they strive to produce engaging, relevant content to keep you up to date with the latest construction industry insight.

At Barbour ABI’ we're revolutionising the way we deliver content to the the construction industry. From blog posts to reports, we're want to deliver the key information that you need at a pace that allows you to quickly digest and continue with your busy work day.

Recent News

Barbour ABI Blog

Categories:

Barbour ABI Blog

Categories:

Barbour ABI Blog

Categories:

Claim your 10 free project leads today

Request a callback

Just fill in your details below and a member of our team will give you a call.

Claim your 10 free project leads today

Book a Demo

Helping Contractors

Win More Business

Get in touch with us and see how we can help you win more work.

FIND YOUR

10 FREE

PROJECT LEADS TODAY

Barbour ABI White Logo

Place of registration: Barbour ABI Limited Company number: 13427982, Registered office: 5th Floor, 133 Houndsditch, London, EC3A 7BX