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| Budget 2013: UK government should build more homes | Budget 2013: UK government should build more homes |
| (35 minutes later) | |
| Boosting homebuilding and infrastructure spending should be the main goal of the forthcoming Budget, according to the business lobby groups. | Boosting homebuilding and infrastructure spending should be the main goal of the forthcoming Budget, according to the business lobby groups. |
| The CBI and the British Chambers of Commerce (BCC) want tens of thousands of new homes built to create new jobs and provide affordable homes. | The CBI and the British Chambers of Commerce (BCC) want tens of thousands of new homes built to create new jobs and provide affordable homes. |
| But they say that the government should stick to its plans to cut borrowing. | But they say that the government should stick to its plans to cut borrowing. |
| However, the BCC says that the government should borrow more if there is no growth in six months. | However, the BCC says that the government should borrow more if there is no growth in six months. |
| The CBI wants to see 50,000 new affordable homes and says its plans would cost about £2.2bn and create 75,000 jobs. | The CBI wants to see 50,000 new affordable homes and says its plans would cost about £2.2bn and create 75,000 jobs. |
| The BCC, which is calling for 100,000 new homes to be built said its plan would cost almost £30bn over three years. | The BCC, which is calling for 100,000 new homes to be built said its plan would cost almost £30bn over three years. |
| John Longworth, director general of the BCC, said: "If within the next six months there is no prospect of growth... you might have to consider actually borrowing more money but you should only do it to fund areas that the market would forgive." | John Longworth, director general of the BCC, said: "If within the next six months there is no prospect of growth... you might have to consider actually borrowing more money but you should only do it to fund areas that the market would forgive." |
| 'Nurses and firemen' | 'Nurses and firemen' |
| The CBI also wants more investment in roads and infrastructure and a cap on business rates. | The CBI also wants more investment in roads and infrastructure and a cap on business rates. |
| The business group said that the money could be found from savings within government departments as well as sales of land and property, and insisted there would be no need for further borrowing. | The business group said that the money could be found from savings within government departments as well as sales of land and property, and insisted there would be no need for further borrowing. |
| Tax incentives should be provided to encourage the refurbishment of existing properties, the CBI added. | Tax incentives should be provided to encourage the refurbishment of existing properties, the CBI added. |
| CBI director general John Cridland told the BBC the plan would address a range of problems: "We need Housing Associations to be freed up going forward to build the affordable housing needed. | CBI director general John Cridland told the BBC the plan would address a range of problems: "We need Housing Associations to be freed up going forward to build the affordable housing needed. |
| "If we want nurses and firemen to be able to live in London we need to build these homes. You create construction jobs - and jobs for young people because these are entry level jobs - and you build confidence." | "If we want nurses and firemen to be able to live in London we need to build these homes. You create construction jobs - and jobs for young people because these are entry level jobs - and you build confidence." |
| He said the government should stick to its fiscal plan, but that these measures were also needed to boost the housing market and would benefit first-time buyers, those trapped in negative equity and those looking to refurbish their homes. | He said the government should stick to its fiscal plan, but that these measures were also needed to boost the housing market and would benefit first-time buyers, those trapped in negative equity and those looking to refurbish their homes. |
| The call comes after the CBI said last month that the UK would avoid falling into a so-called triple-dip recession. | The call comes after the CBI said last month that the UK would avoid falling into a so-called triple-dip recession. |
| The group believes that the UK economy will grow 0.3% in the first quarter of the year, after the economy shrank in the last quarter of 2012 - the first period in what some feared might be another six months of negative growth. | The group believes that the UK economy will grow 0.3% in the first quarter of the year, after the economy shrank in the last quarter of 2012 - the first period in what some feared might be another six months of negative growth. |
| Chancellor George Osborne announces the Budget on 20 March. | Chancellor George Osborne announces the Budget on 20 March. |
| Are you looking for affordable housing? Do you work in the construction industry? Send your comments and experiences using the form below. |