The UK house building industry, which has been struggling with the downturn in property prices and purchases for the past year, received a £500m boost from the Budget.

Alistair Darling said that the Government would grant £500m of extra financial support to kick-start building on housing projects stalled because of the credit crunch, including £100 million for councils to build new energy-efficient housing.

The construction finance will go hand-in-hand with the Budget's emphasis on carbon emissions reduction, including £435m of extra support to deliver energy efficiency measures for homes, businesses and public buildings.

The Times, Daily Telegraph