First Time Buyers Are Key To Economic Growth

The Government could have gone further to help small and medium sized enterprises (SMEs) and first time buyers to get the economy back on the road to sustained economic growth, says the Federation of Master Builders (FMB) in response to the Autumn Statement from the Chancellor of the Exchequer.

Brian Berry, FMB Director of External Affairs said: "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."


The FMB believes 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.

Me Brry continued: "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."

(CD)