Chancellor Alistair Darling’s pre-budget report was met with disappointment by an industry desperate for action to relieve its woes. Although the chancellor spoke of the challenges of releasing mortgage funding, his announcement that any move on this would be delayed until Spring was met with dismay by housebuilders. And the establishment of a Lending Panel to monitor bank lending and performance did little to allay concerns. Stewart Baseley, executive chairman of the HBF, said: “We have been saying for months now that urgent action to assist the housing market is required. Unfortunately the chancellor does not seem to have drawn the same conclusion and the PBR measures will do little to boost a depressed market.” <br>