NewsArticle-24-11-2008

The Scottish home building industry has described the Chancellor’s Pre Budget Report as yet another missed opportunity.

Having previously called for a temporary abolition of stamp duty on house price transactions, the reintroduction of “Mortage Interest Tax Relief” and huge increases in investment for socially affordable housing and other publicly funded projects without which development cannot proceed,  Jonathan Fair, Chief Executive of Homes for Scotland (right), the organisation which represents companies building 95% of the country’s new homes, said:

“Despite the keen anticipation, the Chancellor’s statement was notable more for what was not announced.  Yet again, the Government has squandered another golden opportunity to reinvigorate the housing market and help an industry which is so vital to the wider economy.”

Just last week, Fair called on the Prime Minister to ensure any measures would have direct consequential benefits for Scotland with corresponding application and effects here.  He is therefore calling for immediate clarification on whether the £3bn which the Chancellor announced would be brought forward for transport, housing and energy efficiency was applicable to the whole of the UK. 

He concluded:  “Whilst the Chancellor has indicated that in due course the Government will heed the recommendations of the Crosby Review, what the industry needed today was immediate, bold and decisive action on a number of fronts - unfortunately, the Chancellor just did not deliver it."

Ends

Enquiries to:

Beth Hocking, Homes for Scotland – 0131 455 8350 
Jennifer Kennedy, Homes for Scotland – 0131 455 8350 / 07763 240694

Note to Editors:

Homes for Scotland represents the country’s home building industry which:

-  is the largest source of private investment in Scotland
-  is the largest user of the planning system in Scotland
-  last year built 20,000 new homes, contributed £6bn to the economy and directly impacted the employment of 100,000 people