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Agency supplier warns of 'apocalyptic' Brexit ahead of Twitter debate

Property software supplier VTUK is the latest to warn that a Brexit could have a damaging effect on the supply of homes. 

The firm has researched the impact a Brexit would have and warns that the UK construction industry in particular would be hit with a shortage of skilled migrant labour if Britain quits the EU. 

“With reducing migration as a de facto aim of the ‘out’ campaign, this is clearly bad for house building” insists Peter Grant, managing director of VTUK. 


“But perhaps more worrying is the effect of currency devaluation and hence inflation, that will lead to interest rate rises. A minimum three per cent rate increase, that looks necessary, will have an apolcalyptic effect on home owners”

VTUK is today hosting a Twitter debate on the issue at 1pm. It is urging property professionals to express their opinion - Remain or Leave - and join in the debate using the hashtag #QuestionTribe. The debate will take place here.

The debate comes as housing minister Brandon Lewis writes in Inside Housing magazine that a Leave vote would threaten any chance of the government achieving its housebuilding targets in the UK.

“Quitting the EU would inevitably cause investor uncertainty, which will at least slow, if not stall, the investment we need to keep building the houses we need. Without overseas investment, remember, many of our key developments - especially in London - just won’t happen. And that includes those plans for affordable homes, which are financed by those more expensive properties” explains Lewis.

“The worry about possible Brexit is clear with any builder I speak to in my role as housing minister. The property industry, looking to invest, and British towns and cities, promoting their land to international investors - all are concerned about the impact of the UK leaving the EU” he continues.

Lewis says that the government is working hard to fill the skills gap in the construction industry, including a substantial expansion of the apprenticeship programme. To go further, the country must have access to the skilled labour  market that EU membership makes available.

“Leaving would also have an impact on our supply-line export companies: three million people are involved in such activities. And it could disrupt the imports of the supplies needed for building, from bricks to modular build models. Falling investment will mean they are delaying the development of the advanced construction techniques which will increase the speed of build-out” Lewis adds.

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    ONLY if we enter the dark ages! My god people, if we vote leave and there is even a hint of negativity in the economy do you honestly think the government will sit back and do nothing? Of course not, there are plenty of dynamic measures that can be taken and even more options to incentivise inward investment. To assume we wont have access to the single market in just plain stupid and that 'market' of 500m people that we keep hearing about is anyway stagnant. Does anyone remember Greece, Spain, the fact that the ECB is pumping billions into quantitative easing still and that this so called 'market' could just as easily go back in to recession and f*ck us all once again!!!! What about the global market of several billion people? Please vote leave and have some damn confidence. I am fed up of hearing that the economy will tank... its simply wont.

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    Oh another 'Twitter debate' of bland questions and answers to get our teeth stuck into, lovely!

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    I hate commenting on political issues but please how ill thought out is this?

    Why will we have a shortage of labour?

    If we vote out tomorrow, we will not be sending people packing on Friday.

    If people have been here for 6 months and can evidence it, chances are they will be allowed to stay.

    Lets say we do leave and a restriction is put on people coming to the UK. We would obviously still accept people that offer a skill we are short of providing they come here able to support themselves and have a clean criminal record.

    Immigration has plus and negative points.

    A negative is our welfare system is close to bursting and housing is at a premium (is this immigration fault or government polices?)

    A positive is today in 2016 for every 1 person that draws a pension we have 4 people paying into the pot. By 2050 that figure will be reduced to 2.5 people paying for every one. So you can see we need to attract able bodied individuals paying into our pot.

    Its not black and white, there are a lot of grey areas. Stories like this show either how stupid some people are or they have ulterior motives. I will let you decide that.

  • Trevor Mealham

    The current UK government and last haven't made the most of opportunities. A Brexit would likely lose Cameron and Osborne. Be it in or out of the EU, we'd likely be far better off without Osborne and Cameron.

    Many may vote out to bring Boris in.


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