Government must build on foundations laid Chancellor urged to use PBR to extend stimuli and underpin market stabilisation. HBF today told the Government that the housing market stimulus measures put in place in recent months, that have played such a significant part in the market stabilisation, must be extended. In a range of meetings and a written submission it has urged the Chancellor to use next week’s PBR to extend packages such as HomeBuy Direct, Kickstart and the temporary increase in the stamp duty threshold to support the market - and reap the economic benefits. Stewart Baseley, Executive Chairman of the HBF said today; “House building is so important to the economy, both economically and socially that the Government simply must maintain its support. The stimulus measures introduced have played a significant part in the current market stabilisation and it is vital that just as we are seeing the first signs of a recovery, these stimuli are not removed either in total or in part. The past 18 months have seen an unprecedented drop in output, and so employment, and as long as the lack of mortgage availability remains a significant constraint on the market, such support measures are absolutely vital." HBF has also urged the Government to consider further steps to assist first time buyers, a key section of the market hit hardest by the reduction in mortgage availability; and to introduce a Mortgage Indemnity Guarantee scheme. Click here to download Pre-Budget Report (PBR) submission For media enquiries please contact Steve turner on 020 7960 1606 / 07919 307 760 or steve.turner@hbf.co.uk Notes to Editors: 1. The Home Builders Federation (HBF) is the principal representative body for private sector home builders and voice of the home building industry in England and Wales. The HBF’s 300 member firms account for some 80% of all new homes built in England and Wales in any one year, and include companies of all sizes, ranging from multi-national, household names through regionally based businesses to small local companies: www.hbf.co.uk
