The Government has failed to given housebuilding a shot in the arm and has instead “cut it off at the knees” argues opposition MPs.
Writing in the Guardian, shadow chancellor Ed Balls and shadow housing minister Jack Dromey accuse the coalition government of a disastrous housebuilding policy which has contributed to the lowest economic recovery in a century and the biggest housing crisis in a generation.
The Government is accused of failing to pair its housebuilding announcements with commitments to significant investment.
Ahead of today’s Budget announcement, Balls and Dromey urge the Government to consider a stamp duty holiday for first-time buyers and the creation of a housing ISA, designed to promote saving for a deposit.
VAT on home repairs, maintenance and improvements should be cut to 5 per cent as part of a wider commitment to infrastructure investment.