HBF response: Spring Budget 2023

15 Mar, 2023

HBF response: Spring Budget 2023

Despite the significant economic benefits of home building, the Spring Budget represents a missed opportunity for Government to answer industry calls to work together to address major barriers to housing delivery and mitigate the otherwise inevitable social and economic risks.

Stewart Baseley, Executive Chairman at the Home Builders Federation (HBF) says: “It is disappointing there is not more in the Budget to facilitate the delivery of much-needed new homes at a time when all indicators are predicting a fall in output caused by planning policies, the interpretation of EU laws on ‘nutrient neutrality’ and a drop in affordable mortgage availability.

Baseley adds: “Whilst welcoming the acknowledgement of the Chancellor on the seriousness of the nutrients impact, we continue to stress the need for urgent, workable and affordable solutions that reflect the minimal contribution new homes make to the issue.

Baseley concludes: “For the first time in more than two decades there is no Government support scheme in place to assist first-time buyers to buy new build homes and the Budget represents a missed opportunity to help households onto the ladder.”

Read HBF's members' briefing for a full breakdown of what the Spring Budget means for the home building industry.

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