Barratt Redrow has urged the incoming Prime Minister to cut taxes to boost the housing market, as it launched a buyback scheme to help lift its share price.
The housebuilder, whose shares have suffered in recent months, again urged the government to address 'the increasing regulatory and tax burdens that are constraining viability' to 'unlock higher levels of housing delivery, including affordable housing'.
The FTSE 100-listed firm said urgent reforms to tax and red tape were required to 'tackle the housing crisis, create jobs and drive economic growth'.
Last week, Barratt Redrow called on the government to scrap stamp duty for first-time buyers to boost the housing market, in a joint plea with Rightmove.
After a tentative recovery at the start of the year, housebuilders have struggled with higher building costs. In April, Barratt announced plans to cut its land buying for the year amid a ‘less certain backdrop’ as building cost inflation soared in the wake of the Iran war.
