The Budget was a timid response to build the homes that are desperately needed and to make our existing homes greener and more energy efficient, says the Federation of Master Builders (FMB).

Brian Berry, Director of External Affairs at the FMB said: "The Chancellor had an opportunity today to invest in our housing but instead has offered a lukewarm package of financial measures that will do little to increase the housing supply or to make our homes more energy efficient. The amounts on offer of £500 million to support the construction industry and kick start stalled construction projects of new homes, coupled with the £100 million for local authorities to invest in energy efficient improvements are a drop in the ocean."

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Berry continued: "The Chancellor has missed a golden opportunity to help build Britain out of the recession. A £5 billion package would have created 55,000 new jobs as well as help increase the supply of much needed homes. A cut in VAT to five percent would have helped to bring the 300,000 empty homes back into use. Instead the Chancellor has let the opportunity slip by and those wanting an affordable home will be forced to wait even longer."

(CD/JM)