Industry reacts to “disappointing” Spring Budget

The industry has expressed its disappointment over the lack of significant housing and planning measures in the chancellor Jeremy Hunt’s Spring Budget.

Amidst a housing crisis and housebuilding levels dropping, the Home Builders Federation said it was disheartening that the chancellor had bypassed the chance to “tackle one of the country’s biggest challenges”.

It added: “The dream of home ownership continues to slip away from younger generations while anti-development planning policies are already seeing fewer new homes built.”

Peter Truscott, Crest Nicholson's ceo, also reflected on the "missed opportunity" for the government to give "desperately needed support to boost the housing supply in this country".

And the lack of measures for first time buyers "means millions are left feeling that home ownership is out of reach and concluding that this government has truly given up on housing".

“I am very disappointed,” stated Luke Simmons, md of Northamption-based SME Cora.

He described the Budget - which on the housing side included investment in housing schemes in Leeds and London and the scrapping of stamp duty relief for purchasers of multiple dwellings - as “blinkered”.

He said: “I was expecting something would be announced to stimulate …