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CBI calls for affordable homes construction

19 March 2013 No Comment

The Confederation of British Industry (CBI) is calling on the government to fund 50,000 new affordable homes in the upcoming budget, reports guardian.co.uk.

According to the body, which is Britain’s largest business lobby group, building 50,000 of these homes would generate £18 billion for the wider economy and create 75,000 jobs.

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Alongside spending £1.25 billion on capital projects and housing, the CBI is also calling for a VAT reduction for refurbishments and an extension on the NewBuy scheme to include second-time buyers.

If the CBI’s proposals come to fruition, the UK could be seeing a lot more housebuilding in the near future – potentially in the eco-friendly buildings sector, considering the constant drive for energy efficiency and green construction in the country.

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Speaking to architectsjournal.co.uk, CBI director-general John Cridland said:

"With its relatively short lead-in times, house building offers the most bang-for-buck in growth terms – unleashing pent-up demand, while creating jobs and growth.

"To boost the construction sector, we are calling for 50,000 new affordable homes to be built, incentives for refurbishing empty homes and the housing guarantee scheme to be extended to all types of housing," he added.

The call comes after RIBA had demanded ‘urgent action’ to get UK building ‘in order’ – including funding for 300,000 new homes every year.

Author: Ashley Curtis    Date Written: 19 March 2013

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