‘The CBI will today call on the Government to kick-start the economy by spending £1.25bn on building 50,000 new homes.
John Cridland, director-general of the CBI, will say that building 50,000 affordable homes would generate £18bn for the wider economy and create 75,000 jobs.
He will also suggest that measures are put into place to refurbish empty homes and ensure the housing guarantee scheme is extended to all types of housing.
Additionally, the CBI will recommend the Government extends the NewBuy scheme for first-time buyers to second-steppers to keep the housing market liquid.
Separately, the British Chambers of Commerce will call on the Chancellor to invest in house-building and infrastructure projects.
John Longworth, its director general, will argue that 100,000 new homes should be built by 2015 by the Government and by housing associations. He will also propose that the Government diverts money from the Funding for Lending scheme into road, rail, air and digital infrastructure projects.’
Source: Financial Times