Investment to build more houses and to retrofit existing homes should be the Chancellor of the Exchequer's urgent task as he prepares for his Pre-Budget Report early next month, argues the Federation of Master Builders (FMB).

Richard Diment, Director-General of the FMB, said: "The best way to get Britain out of the recession is for the government to tackle the housing market both by building more homes and improving our existing ones to make them more energy efficient. Getting the housing market back on its feet is the key to get Britain building again as it would sustain the jobs of thousands of apprentices and tens of thousands of construction workers."

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This year a record low of just over 90,000 new homes will be built compared to a target of 240,000 which is not only bad news for builders but bad for the five million people on social housing waiting lists.

Diment continued: "The Chancellor has the opportunity in his Pre-Budget Report to do something positive and provide the kick start that is needed to get Britain builders building again. Introducing new incentives to promote more housing providers to come into the housing market would be a welcome start as would specific financial incentives such as cutting VAT on property improvements to make them more energy efficient. Such measures would help kick-start the housing market which has a knock on effect in terms of creating jobs in the construction and manufacturing sectors as well as providing the homes that we desperately need."

(CD/KMcA)