Chancellor Rachel Reeves has been issued a warning by the BMF. (Photo by Oliver McVeigh – Pool/Getty Images)

Chancellor Rachel Reeves has been warned there are no incentives for people to buy or move home and that the Labour government needs to take action to ‘tackle the malaise’ in the building materials industry.

John Newcomb, CEO of national trade body BMF (Builders Merchants Federation), added that “immediate intervention is now needed to thwart long-term stagnation” as Reeves prepares to deliver her second Budget next month.

His comments come as a new report from the BMF revealed ‘stalled recovery, stagnant consumer spending and severe regional disparities’ in a market considered a key economic bellwether.

The figures reveal two consecutive quarters of value growth of only 1.9 p

See Full Page