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.

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