The Scottish home building industry has described the Chancellor's pre-budget report as yet another missed opportunity.

Having previously called for a temporary abolition of stamp duty on house price transactions, the reintroduction of "Mortgage Interest Tax Relief" and huge increases in investment for socially affordable housing and other publicly funded projects without which development cannot proceed, Jonathan Fair, Chief Executive of Homes for Scotland, the organisation which represents companies building 95% of the country’s new homes, said: "Despite the keen anticipation, the Chancellor's statement was notable more for what was not announced. Yet again, the Government has squandered another golden opportunity to reinvigorate the housing market and help an industry which is so vital to the wider economy."

-- Advertisement --

Just last week, Fair called on the Prime Minister to ensure any measures would have direct consequential benefits for Scotland with corresponding application and effects here. He is therefore calling for immediate clarification on whether the £3bn which the Chancellor announced would be brought forward for transport, housing, and energy efficiency was applicable to the whole of the UK.

He concluded: "Whilst the Chancellor has indicated that in due course the Government would heed the recommendations of the Crosby Review, what the industry needed today was immediate, bold and decisive action on a number of fronts - unfortunately, the Chancellor just did not deliver it."

(GK/JM)