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News - 11 March 2013

CBI calls for increase in homebuilding

The CBI and the British Chambers of Commerce (BCC) want tens of thousands of new homes built to create new jobs and provide affordable homes.

The CBI wants to see 50,000 new affordable homes and says its plans would cost about £2.2bn and create 75,000 jobs.

The BCC, which is calling for 100,000 new homes to be built said its plan would cost almost £30bn over three years.

John Longworth, director general of the BCC, said: "If within the next six months there is no prospect of growth... you might have to consider actually borrowing more money but you should only do it to fund areas that the market would forgive."

The CBI also wants more investment in roads and infrastructure and a cap on business rates.

The business group said that the money could be found from savings within government departments as well as sales of land and property, and insisted there would be no need for further borrowing.

Tax incentives should be provided to encourage the refurbishment of existing properties, the CBI added.

CBI director general John Cridland said the government should stick to its fiscal plan, but that these measures were also needed to boost the housing market and would benefit first-time buyers, those trapped in negative equity and those looking to refurbish their homes.

Lavinia Newman, founder of ABDS comments:
“Chancellor George Osborne announces the Budget on 20 March, we will see what measures he proposes to boost the economy. You can find all the budget details and implications on our web site.”

If you need any help and advice for your business on financing, cash-flow, management accounts, business development or any other business related matter contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
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