Get a quote
Home Builders Insurance Chancellor Unveils £44 Billion Budget Housing Boost

Chancellor Unveils £44 Billion Budget Housing Boost

The Chancellor has unveiled a £44 billion budget housing boost.

Phillip Hammond has said yesterday that £204 million of funding will be invested into “innovation and skills” within the construction sector – including training a workforce to construct the new housing.

However, some people are concerned the plan did not go far enough, Justin Neal, who is partner and Head of Real Estate of Gordon Dadds, has concerns over the upcoming Brexit and the lack of a skilled workforce – “It is essential that the issue of supply is dealt with and steps have been announced to deal with this. In particular, I note the £34m to develop construction skills. This is a welcome gesture, but until we have a sufficient home-grown skills base, the issue of supply will remain, and this will potentially be compounded by the Brexit effect,” he says.

Included in the budget were plans to inject £2.7 billion into the housing infrastructure fund, which would raise it to £5 billion, with promises to also build five new garden towns by 2050 – meaning an extra one million homes.

If this all a bit too much to take in, relax with a pint – at least the cost of those have been frozen (for the time being!)

This website is intended for customers based in the UK and is therefore subject to the UK regulatory regime(s) © Copyright 2024 Tradesman Saver | Tradesman Saver and Henry Seymour & Co. are trading names of Barkdene Limited which is authorised and regulated by the Financial Conduct Authority (FRN 303965) for our insurance distribution and credit broking activities. Barkdene Limited is a credit broker not a lender. You can check our financial services registration status on the Financial Services register.
Registered in England No 1842617. Registered Office – Chancery House, St Nicholas Way, Sutton, Surrey, SM1 1JB. All rights reserved.
Back To Top
You need to be logged in to Your Account to make a payment. Redirecting you to Account Login.