Summary
Housebuilders in England warn that the government's goal to build 1.5 million homes by the end of the decade may not be reached unless measures are taken to help first-time buyers and adjust taxes. The Home Builders Federation has communicated concerns to the Office for Budget Responsibility, highlighting that current policies and additional costs make some projects unworkable. The government acknowledges these challenges but is committed to achieving the target.
Key Facts
- The UK government aims to build 1.5 million homes in England by the end of the decade.
- The Home Builders Federation warns this target is too ambitious without policy changes.
- The government has been urged to help first-time buyers and revisit tax policies.
- Building costs are rising due to taxes like the "landfill tax" and a new building safety levy.
- Government planning reforms are seen as positive but insufficient on their own.
- The closing of the Help to Buy scheme has left first-time buyers without direct support.
- The government is committed to achieving its housing targets despite financial challenges.
- The Chancellor and Office for Budget Responsibility are involved in economic and housing forecasts.
