More needs to be done to boost the nation's small builders to secure economic growth, says the Federation of Master Builders (FMB) in response to the Chancellor of the Exchequer’s speech.
Brian Berry, Chief Executive of the FMB said: "It’s reassuring that the Chancellor, John Healey MP has recognised that costs have gone up for businesses since the pandemic. Small building companies have been working hard to upgrade homes and build new ones but they have faced a barrage of costs, like a hike in National Insurance contributions and material price increases, which have been impacted by energy costs and ongoing trade wars. If the Chancellor is true to his word of drawing a line under this pressure, then more must be done to boost builders, who sit at the heart of their communities."
Berry continued: "It would be good to see more investment into the retrofit market for owner occupiers. Expanding the retrofit market has the potential to drive significant regional growth but requires a long-term strategy with a commitment to kickstart home improvements for all. The other big hurdle is housing delivery which has stalled over the last year. If the Government is to deliver 1.5 million new homes, it must look hard at how they increase the number of smaller players in the market. Diversification of housing delivery to include local housebuilders would unlock regional growth and complement the Government's ambition to devolve power to the regions."
