The National Federation of Builders has described the chancellor of the exchequer’s strategy for solving the UK’s housing crisis as laid out in yesterday’s Spring Statement as applying “a sticking plaster to a gaping wound”.

Philip Hammond outlined plans for a new £3bn affordable homes guarantee scheme, but the NFB said it was “unconvinced” by the announcement.

The NFB’s chief executive Richard Beresford said that as the 2020 deadline loomed by which the government has pledged to build a million homes, including 200,000 starter homes, it was becoming increasingly clear both targets would be missed.