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Bellway boss Jason Honeyman (pictured) accused ministers of “badmouthing” the housing market.
The threat of tax rises in the Budget has hit demand for new homes, according to one of Britain’s biggest builders.
The Bellway boss accused ministers of “disrupting” the housing market with their gloomy tone. Jason Honeyman told the Financial Times: “We have a lot of clients who are worried about the October budget, so they are delaying decisions.”
His comments came after weeks of speculation over which taxes Rachel Reeves will increase in her first budget on October 30 as she struggles to balance the books.
The Chancellor is said to plan to increase national insurance contributions for companies, capital gains tax and inheritance tax.
An attack on pensions and an increase in fuel taxes are also at stake.
Bellway recorded a 30 per cent drop in annual revenue to £2.4bn and a 62 per cent drop in profits to £183.7m.
It sold 7,654 new-build homes in the 12 months to the end of July, more than 3,000 fewer than a year earlier.
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