Page last updated at 10:06 GMT, Saturday, 2 August 2008 11:06 UK

Developers hit by credit crunch

A Bristol developer has called for government action to boost the building industry, hit by the credit crunch.

Edward Ware, manager of Edward Ware Homes, said the credit crunch had "decimated" business turnover and affected the numbers employed.

Mr Ware said the government needed to offer incentives to get first-time home buyers back in the market and to free up the system.

Incentives would include abolishing stamp duty for six months to one year.

Mr Ware said the industry was affected because there was no money in the system and people were unable to get mortgages.

"We are trying to survive... what is happening at the moment isn't controllable. It is out of our hands," he added.


SEE ALSO
UK house prices 'fell 2% in June'
10 Jul 08 |  Business
House builder Barratt cuts jobs
10 Jul 08 |  Business
Mortgage lending hits 33-year low
13 May 08 |  Business



FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

BBC navigation

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.

Americas Africa Europe Middle East South Asia Asia Pacific