A cut in VAT from 20 to 5 per cent in home improvements over the next five years would create 345,000 new jobs and pump £51bn into the economy, according to new research. CBI Economics analysis discovered the cut would offer an extra £25bn in goods and services to the UK economy at a cost of £2.8bn to the government in lower fiscal contributions. The survey, conducted for the Federation of Master Builders and the Royal Institution of Chartered Surveyors, [...]

SME builders are pressing the chancellor Rishi Sunak to offer a series of important tax cuts to boost employment and address dwindling workloads. The Federation of Master Builders, FMB’s state of the trade survey shows 27 per cent of respondents were experiencing lower workloads in the last quarter of 2020 compared with 21 per cent in the third quarter. Drops in the industrial or commercial sector were particularly sharp with 40 per cent reporting lower workloads. FMB chief executive Brian [...]

A spatial framework mapping out the route for the Oxford-Cambridge arc to expand dramatically with more than one million new jobs is being proposed by the government. Forecasts suggest with the right investment economic output could grow from between £80.4 billion and £163 billion a year with between 476,500 and 1.1m extra jobs by 2050. Housing minister Christopher Pincher said: “The Oxford-Cambridge Arc is already home to world-leading economic, cultural and scientific assets. “We know for instance Cambridge’s rate of [...]

A new stream of construction loans of up to £10m for SME developers has been launched by the government housing delivery agency Homes England and United Trust Bank, UTB. The loans of up to 24 months will offer 70 per cent loan to gross development value, GDV, as opposed to the typical ratios of 59 to 65 per cent. They will be for projects in places with the greatest housing affordability pressures with the maximum house sale price of £800,000. [...]

The campaign for the government to ditch reverse charge VAT is mounting with the Federation of Master Builders, FMB, claiming two-thirds of SMEs believing it will damage cash flow. Scottish National Party MP Kirsten Oswald has already tabled an early day motion calling for the controversial new regime to be dropped. FMB chief executive Brian Berry said: “This is a damaging policy being introduced at the worst possible time for builders. By removing the flow of VAT money between businesses [...]

SME developers of custom-built homes on multi-plots can now apply for exemption of the community infrastructure levy thanks to new planning guidance released this week. It also allows custom builders to cover a wider spectrum of projects, including customised housing where the home is built ready for occupation, dubbed turnkey. Procurement organisation Custom Build Homes, CBS, and trade body National Custom and Self Build Association, NaCSBA agreed the new guidance was a positive development. CBS planning and strategic engagement director [...]

A new organisation to champion consumer rights and ensure new build homes are built to a high standard has been launched by the government. Natalie Elphicke MP will chair the new homes quality board which will oversee consultation on a new industry code of practice and new homes ombudsman service. “The new arrangements will lead to a step-change in how new homes are built and sold and how customers are treated. The board is committed to driving new-build quality and [...]

The government is under pressure to extend the green homes grant scheme beyond March 2022 after a committee of MPs described current progress as moving at a snail’s pace. Business, energy and industrial strategy minister Lord Callanan admitted only 20,000 vouchers have been handed out since its launch last summer. The slow take-up led the government to extend the original March 2021 deadline by a year. Environmental audit committee chairman Philip Dunne said: “The principle of the scheme should be [...]

Waterbeach New Town East is set to get a further 4,500 new homes after South Cambridgeshire district council granted outline planning approval a few days ago. The new development is five miles north of Cambridge and comprises a mixture of one-bed flats and family homes of up to five beds with 30 per cent being affordable. Planning consultants Boyer submitted the application on behalf of RLW Estates – a consortium comprising Royal London, St John’s College, Cambridge and Turnstone Estates. [...]

New developments should be tree-lined, beautiful and of high quality, according to a new draft national design code launched for consultation by the government. Planning authorities are expected to use it as a tool kit to guide them to develop their own design codes reflecting local community views. Housing secretary Robert Jenrick said: “We need to bring about a profound and lasting change in the buildings that we build, which is one of the reasons we are placing a greater [...]

A new 30-storey office tower with green walls and roof nestling next to London’s walkie talkie building has been approved by the City of London Corporation, CLC. Hong Kong-based developers Tenacity Group are behind the scheme which is the first tall building approved by CLC this year. The proposed new tower at 55 Gracechurch Street, between Monument tube station and Leadenhall Market, offers 34,000 sq m of office space and 2,500 sq m of retail, cultural and open space. Fletcher [...]

Plans for 852 new homes to be built next to the Grade II listed Acton Town tube station in West London have moved a step closer. Ealing councillors approved Transport for London’s, TfL, hybrid application to develop the long strip of 3.64 hectares of land hugging Piccadilly and District Line tracks along Bollo Lane. TfL said it would now be going to the market looking for a partner to deliver the homes of which 50 per cent are affordable. Property [...]