House Builders Say Government Housing Targets Will Not Be Met Without EU Workers

Home builders in England are heavily reliant on EU workers and will need continued access to skilled labour from the bloc after Brexit to deliver the government's housing targets, according to a new report.

A census of more than 37,000 workers in house building sites across the country conducted by the Home Builders Federation (HBF) revealed that nearly a fifth were from EU countries.

More than half of workers on London sites were from abroad, with HBF stressing that safeguarding and growing this workforce is of vital importance.

In 2015, the Conservative government pledged to build one million new homes by 2020 – around 200,000 per year – to address the disparity between average house prices across the country and the average earnings of Britons.

The HBF said this target would be unattainable without continued access to workers from countries such as Romania, Poland, Lithuania and the Republic of Ireland after the UK leaves the EU.

"The results of this census clearly demonstrate the reliance the industry currently has on non UK workers," said Stewart Baseley, executive chairman of the HBF.

"Output is up a massive 74% in recent years but achieving the very challenging targets set by government will require further big increases in workforce capacity.

"Whilst the industry is investing heavily in recruiting and training young people leaving our schools, colleges and universities, continued access to overseas workers is absolutely essential."

The warning comes a day after the chief executive of England's leading wine producer said Britons could "starve" post-Brexit, as there are not enough local workers to replace the migrant fruit pickers in the horticulture industry.

Frazer Thompson, chief executive of Chapel Down, told Press Association that continued access to European labour after Brexit is crucial so that tonnes of fruit do not go to waste in farms across the UK.

Prime Minister Theresa May has signalled her intent to clamp down on immigration from the EU after Brexit, arguing that doing so would help protect UK wages.

RECENT NEWS

Trade War Turbulence Tests Limits Of Computer-Driven Hedge Funds

The escalating trade conflict between the United States and China has delivered a blow not just to global supply chains ... Read more

The New Systemic Giants: Are Hedge Funds The Next Financial Shock Trigger?

Hedge funds, once considered niche and opaque investment vehicles operating on the margins of finance, have grown into v... Read more

Unwinding The Trade: How Hedge Funds Triggered The Treasury Rout

The mechanics behind a leveraged arbitrage strategy and its role in market instability A sharp sell-off in US Treasurie... Read more

When The Machines Falter: Renaissance And The Limits Of Quant Strategies

How Political Turbulence Exposed Structural Weaknesses in Algorithmic Trading Renaissance Technologies, one of the most... Read more

Inside The Fear Trade: How Hedge Funds And Banks Are Bracing For A Breakdown

Despite relative calm in equity indices and credit spreads, a rising number of institutional investors believe markets a... Read more

Margin Pressure Mounts: Hedge Funds Face Liquidity Crunch

A wave of steep margin calls has swept through the hedge fund industry as global financial markets experience renewed vo... Read more