CBI: Housing can boost economy in months

An increase in homebuilding would give an almost immediate boost to the economy, the director general of the CBI has said.

John Cridland called on Chancellor George Osborne to reallocate money to infrastructure projects in his budget next week.

The CBI said that a programme for building 50,000 new homes would create 75,000 jobs and boost confidence both in the housing market and the wider economy.