Builders call for return of first-time buyers’ grant and halt to stamp duty

BUILDING chiefs want the first-time buyers’ grant reintroduced and stamp duty on homes temporarily suspended as incentives to restart house buying.

They also want private pension fund investments diverted into public infrastructure to make up the shortfall in state funds for major construction projects about to be shelved because of the financial crisis.

Over half a million jobs rely directly or indirectly on the building industry, they warn, and two-thirds of them will either vanish or be jeopardised if urgent action is not taken to keep construction crews at work.