"The government will fail to meet its target of building 1.5m homes by the end of the decade, house builders have warned in a letter to the budget watchdog - a fresh blow to Rachel Reeves ahead of what is expected to be a difficult budget in November. In a letter to the Office for Budget Responsibility (OBR), the Home Builders Federation (HBF) - the representative body"
"of the home building industry in England and Wales - said that its forecasts for economic growth from house building were too optimistic. The organisation's chief executive, Neil Jefferson, said the OBR's numbers would only be achievable if ministers gave more help to first-time buyers to stimulate demand and slashed planned taxes on new homes, which he said were making many sites unviable."
The government will fail to meet its target of building 1.5m homes by the end of the decade, according to warnings from house builders. The Home Builders Federation told the Office for Budget Responsibility that OBR forecasts for economic growth from house building are overly optimistic. The HBF's chief executive, Neil Jefferson, said the OBR's numbers are only achievable if ministers increase help for first-time buyers and remove planned taxes on new homes that make many sites unviable. The private warning could undermine prospects for the watchdog to upgrade construction growth forecasts ahead of a difficult November budget.
Read at www.independent.co.uk
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