Scottish Budget Statement Provides Hope for Housebuilders

The Federation of Master Builders (FMB) Scotland says that the Scottish Budget Statement includes strong measures that will help builders throughout Scotland deliver the homes that the country needs.

FMB Scotland Director Gordon Nelson commented on the Scottish Budget 2018 by saying that it appeared in the wake of Scotland’s latest Quarterly Housing Statistics. The statistics revealed a 4% increase in the country’s number of new build homes over the year ending June 2018, compared with the year before.

Although this is an encouraging sign of progresss with Scottish housebuilding, Mr. Nelson said that it represents only 695 new properties, which is not enough to solve the housing crisis. He said that the FMB Scotland was therefore pleased that the Finance Secretary had gotten the government to recommit to creating a Scottish National Investment Bank, as such a move will help provide the small Scottish housebuilding firms with necessary financing.

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An additional £50 million to provide the housebuilding sector with access to funds has been confirmed through the Building Scotland Fund, an announcement that Mr. Nelson also welcomed. Many smaller housebuilders are having problems accessing the money they need to build homes, with small loans, overdraft limitations, and fees presenting a barrier to housebuilding. The new financing will help deliver homes more quickly and result in a more resilient and diverse housing supply.

Mr. Nelson said it was also positive that a £50 million capital fund has been announced by the Scottish government, which has also acknowledged the importance of investing in the local economies. Scotland’s struggling town centres are in serious need of investment in order to meet changing trends in leisure and retail. He said that the government was to be commended for its commitment to protecting the vitality of Scotland’s high streets.

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