£500m: kick-start for building projects.

Ibstock welcomes Budget boost

Published:  21 May, 2009

LEICESTER: Ibstock has welcomed chancellor Allistair Darling's recent Budget announcement, which outlined a number of measures designed to stimulate the housebuilding industry. These included the investment of £500m to restart frozen building projects.

John Richards, sales and marketing director at Ibstock, commented: "The construction sector represents over 6% of the total UK economy, so it is only right that the Budget should put a strong focus on trying to kick start the industry.

"Although there is still a long way to go, the investment of £500m to restart frozen building projects, the extension to the stamp duty holiday and £80m for shared equity mortgage schemes are sure to stimulate the housing market and help fuel demand for new homes.

"We are also very encouraged by the chancellor's decision to provide a £100m package for local authorities to spend on energy-efficient housing developments. It demonstrates a long-term environmental commitment on behalf of generations to come and will ensure future cost savings through reduced energy consumption."


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