Industry groups call for construction boost to rev up flagging UK economy

The Confederation of British Industry (CBI) today called for a home building push to help revive the stuttering UK economy.

The business lobby group has called on the government to make housing the main plank of the forthcoming UK budget, due next week.

According to the CBI this would build confidence among businesses and trickle through to a host of other industries including retail and utilities.

The CBI has called on the chancellor George Osborne to make massive home building initiative a key plank of his budget proposals for reviving the economy.

In its annual report ahead of the budget, it called on chancellor George Osborne to introduce a set of  measures to benefit first and second-time buyers, support for householders refurbishing homes, and for smaller house builders struggling to access finances.

The CBI wants to shift £2.2 billion from current spending to high-growth areas without increasing the deficit.