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03 October 2012

CHC responds to Draft Budget - Investment welcomed but falls short for stimulus

The Welsh Government has today published their Draft Budget proposals for 2013-14. CHC believe that the draft budget is far short of the type of stimulus package being debated at UK level.

Yesterday Ed Balls used his speech at the Labour Party conference in Manchester to spell out his idea to boost the housing market and construction industry, he believes that the Government needs to ‘Build our way out of recession and re-build Britain for the future.’ He said: "Let''s use that money from the 4G sale and build over the next two years 100,000 new homes - affordable homes to rent and to buy - creating hundreds of thousands of jobs and getting our construction industry moving again.”

Nick Bennett, Group Chief Executive of CHC said: “We are disappointed that when Labour are encouraging the building of 100,000 new affordable homes in the UK that this isn’t being followed through to Wales, with Welsh Labour allocating only 10% of their capital expenditure budget to housing. Clearly they accept the importance of housing to help boost economic growth but on this occasion we are not seeing their words being turned into action. We will continue to engage with Labour and other parties over the coming months to lobby for more investment in housing to help fight poverty, create job and training opportunities and to boost the economy.”