Homes England’s emphasis on being a housing delivery agency is expected to change to one involving a greater focus on regeneration. The Times newspaper has reported Homes England’s chairman Peter Freeman, co-founder of developers Argent famous for the successful regeneration of King’s Cross, is to conduct the review. The agency has been criticised for focussing on developing land in places where houses are expensive to buy. Its 2018 strategy set out that 50 per cent of its funding should go [...]

SME builders are disappointed with chancellor Rishi Sunak’s decision not to include a VAT cut on green home improvements in the latest budget. The Federation of Master Builders, FMB, described it as a glaring omission of a long-term plan to make homes greener. FMB chief executive Brian Berry said: “The chancellor has missed an opportunity to show global leadership with a long-term plan to make our homes greener, healthier, and more affordable to run. “The government’s commitment to green growth [...]

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 [...]