Latest Public Sector News

11.03.13

Homebuilding will build confidence in economy – CBI

The upcoming Budget must focus on house-building, a number of business lobby groups have suggested.

The CBI is calling for 50,000 new affordable homes to be built, creating 75,000 jobs and costing £1.25bn. More investment in roads and infrastructure, with a cap on business rates will cost around £2.2bn in total. This could be funded using savings from within Government departments, the CBI suggests.

The British Chambers of Commerce (BCC) is pushing for 100,000 new homes by 2015, which could cost almost £30bn over three years.

Both organisations believe the Government should continue with plans to cut borrowing and reduce the deficit.

CBI director general John Cridland told the BBC: “We need housing associations to be freed up going forward to build the affordable housing needed.

“If we want nurses and firemen to be able to live in London we need to build these homes. You create construction jobs – and jobs for young people because these are entry level jobs – and you build confidence.”

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