Angela Rayner’s housing targets dealt large blow by Donald Trump | Politics | News | EUROtoday

Angela Rayner’s formidable housing goal has been dealt yet one more blow – this time by Donald Trump. The US president slapped a hefty 25% tariff on all UK metal and aluminium imports earlier this month, probably jeopardising the Government’s pledge of constructing 1.5 million properties by the top of this Parliament.

The metal trade is now expressing grave considerations that it may have a knock-on impact on building, which depends on metal merchandise similar to structural fixings, beams, and pipes. High power prices and weak home demand are additionally compounding the problem, prompting warnings the tariffs may very well be the nail within the coffin for the Housing Secretary’s objective. Clive Holland, former host of the BBC collection Cowboy Trap and broadcaster on Fix Radio, stated contruction tasks may very well be halted altogether as prices turn out to be unmanageable.

He advised the Express: “The Government’s target of building 1.5 million homes by the end of this Parliament is now unlikely to be achieved, given the significant challenges posed by both rising material costs and the UK’s deepening skills shortage.

“The 25% tariff on UK metal will drive up the price of building, forcing stockpiling, with this enhance in prices placing added stress on builders, making tasks costlier and probably delaying or halting building.

“Many developers will struggle to maintain the financial viability of their projects, particularly in the affordable housing sector.”

Mr Trump claimed the tariffs are encouraging firms to put money into US factories, regardless of the S&P 500 inventory index falling 8% over the previous month as a result of development considerations.

He stated: “The higher it goes, the more likely it is they’re going to build. The biggest win is if they move into our country and produce jobs.

“That’s an even bigger win than the tariffs themselves, however the tariffs are going to be throwing off some huge cash to this nation.”

It will be a bleaker picture in Britain, warned Amit Oberoi, Group CEO of the Considerate Constructors Scheme. He told the Express: “Tariffs are a catastrophe for the British metal trade.

“Although decreased demand from the US might lead to lower prices in the short-term, in the longer term it will likely mean reduced domestic supply and fewer domestic steel producers, causing costs to soar.”

The way forward for Labour’s formidable housing pledge stays unsure, however within the wake of Mr Trump’s escalating commerce struggle, the Government could also be compelled to make changes to save lots of the metal and building industries.

The Ministry of Housing, Communities and Local Government has been contracted for remark.