BPF response to the Chancellor's Spring Statement

In response to the Chancellor's Spring Statement, our Chief Executive Melanie Leech said:

“Against an uncertain economic backdrop the Chancellor has doubled down on the commitment to ‘back the builders’, with the OBR forecasting 1.3 million homes could be delivered by 2029/30 and planning reforms could be a significant driver of GDP growth. This message will be welcomed by the industry, as will the commitments to maintain capital spending on infrastructure and day-to-day Government spending alongside new funding to support construction skills.

“However, we would have liked the Chancellor to unlock even more investment in the context of Regulating for Growth. Delays caused by the Building Safety Regulator are still blocking new home delivery, pension funds need to be allowed to invest more in UK property, and further planning reform is needed to make it easier for institutional money to fund more social and purpose-built private rented homes. We need the whole industry to be firing on all cylinders, including our under-resourced planning departments. That means 3000 more planners rather than the 300 that have been pledged and we would urge Government to consider how its Transformation Fund can be used to enhance skills and capacity.”