SME house builders and first-time buyers are the key to economic growth

“The Government is in a very tight financial position but there are a number of measures that the Chancellor could have taken today which would have had significant economic benefits for little, if any direct cost, by extending existing policies and delaying the introduction of others.”
 
Berry continued:

“In addition to making more credit available at reasonable rates, as they have already committed to doing, the Government should have extended the stamp duty holiday for first time buyers for property transactions under £250,000 which expires in April to help get the housing market moving again. It could also have reduced the burdens on  SME house builders by providing a blanket exemption from the soon to be implemented Community Infrastructure Levy which will add around £43,000 to the cost of a building a two bedroom house in some parts of the country.  The Government also missed an opportunity to delay implementation of its ‘zero carbon homes’ policy until the housing market has recovered sufficiently to support the extra costs.”
 
Berry concluded:

“SMEs are the engine of growth but are likely to be excluded from the wider specific aid packages aimed at the industry. Adjusting these policies will do more to help small house builders who in return will deliver much needed jobs and homes.”

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