Nigel Emmerson, housing specialist and partner at Womble Bond Dickinson, comments on the Spring Statement:
“The government’s decision to double the Household Support Fund to £1bn is a good one, and will have a meaningful impact on the UK’s most vulnerable families. While it remains to be seen how each Local Authority will allocate this funding, overall it is a positive step.
“The VAT cut to energy saving materials is good for the construction industry, which has been at the mercy of a range of factors in recent years. The move has the potential to give the sector the much-needed support it needs to recover from the effects of the pandemic and Brexit, which in turn may alleviate the UK’s housing crisis.
“The VAT reduction is also positive for homeowners wanting to install energy saving products, and supports the UK’s move towards net zero. However, homeowners will still have to fund the upfront costs of these products, which at a time when the cost of living is at a record high is not ideal.”