The Autumn Budget: BMF welcomes commitment to housebuilding  

Responding to today’s Budget (22.11.2017), the BMF has welcomed recognition by the Chancellor that housebuilding needs to be one of the Government’s main priorities.  

John Newcomb, Chief Executive of the BMF said: “The BMF is pleased that the Chancellor has acknowledged the profound need to deliver and build new homes. This needs to be an unflinching, unrelenting determination by government at all levels to narrow the gap between housing demand and supply. We also want to see the Government press ahead with its proposals contained in the Housing White Paper, as this will bring a welcome boost to housebuilders and to the manufacturers and merchants in the  building materials supply chain.  

“Access to finance, available land, more SME builders, sclerotic planning approval, slow build-out rates, over-stretched local authorities, brownfield versus greenfield, and residents’ resistance, must all be confronted and resolved. However, we welcome the new money that has been found for the Home Building Fund, for small sites, and for construction skills. In addition, we are pleased to see the lifting of the cap on Housing Revenue Accounts for Local Authorities and the immediate scrappage of stamp duty for many first-time buyers."