COMMENT

A construction industry trade body said a raft of measures announced by the Chancellor to tackle the housing shortage and help first-time buyers added up to a “Budget for builders”.

The abolition of stamp duty for first-time buyers purchasing homes under £300,000 and reduced tax for those costing between £300,000 and £500,000 in England, Wales and Northern Ireland was at the heart of the package of plans by the UK government which has set a target of building 300,000 new homes a year by the mid-2020s.

Although the stamp duty change won’t affect Scotland, which has its own Land and Buildings Transaction Tax (LBTT), trade body Homes for Scotland said it was now vital those living north of the Border were not left behind.

Its chief executive, Nicola Barclay, said it was “imperative” for Scotland to have a target that identifies the large number of homes that are needed.

“This would focus all our minds on ensuring that the system is geared up to enable all parties to deliver the homes needed,” she said.

Gerry More, managing director of Stewart Milne Homes in central Scotland, said it was a positive Budget for the sector overall which will accelerate the construction of new homes and allow more people to get on to the property ladder.

“However, with many of the changes not applicable in Scotland, we will have to wait

“We’ll have to wait and see how the Scottish Government tackles this to ensure there is a level playing field”

GERRY MORE