The Home Builders Federation (HBF) is calling on Government to take urgent action now to assist the housing market and warning of the severe implications of not doing so.

It is estimated that whilst around 300,000 people are employed in building homes many more are employed either directly or indirectly in servicing the housing industry. From white collar workers such as solicitors, estate agents, mortgage brokers, insurance clerks to removals men, utility connection companies, brick, concrete and other material manufacturers, white goods and electrical providers, carpet/ kitchen/curtain manufacturers - there are a great many businesses and jobs reliant on house building and the residential property market.

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Stewart Baseley, Executive chairman of the HBF, said: "We need action now to prevent widespread redundancies in the housing industry. Whilst we welcomed the £50bn special liquidity scheme announced by the Bank of England last month we believe more needs to be done to help first time buyers in particular.

"We have suggested a range of measure that we believe would assist. If action is not taken and taken quickly, in addition to the immediate threat to jobs then the Government's long term housing targets are in jeopardy."

(CD/JM)