91热爆

Simon Linton watches the news avidly for a glimmer of hope that people will start buying houses again. Because his business, and the livelihoods of his staff, depend on it.

Simon Linton

As Managing Director of Linton Brick in Eccles, he鈥檚 built up a successful business over the past 19 years making specially shaped bricks for the leading housebuilders like Barratt鈥檚, Redrow and Persimmon.

But now, he鈥檚 having to take it back it down again, brick by brick.

Devastated

Since the credit crunch started to bite, turnover at Linton Brick has dropped by a quarter over the past 12 months and Simon's been forced to shed half his workforce, laying off 11 experienced members of staff.

Simon said it left many of them devastated.

"We鈥檝e lost a lot of great people who we鈥檝e employed for many years which is a tragedy for them. And for the people we鈥檝e got left, it鈥檚 a very worrying time for them.鈥�

Adding: "Basically, we鈥檙e at rock bottom. If we cut anymore, the critical mass of the company would be lost and we just wouldn鈥檛 be able to function."

Worried: Stuart Bassett

Stuart Bassett, a production supervisor at the company, is one of the lucky ones who鈥檚 still in a job. He says it鈥檚 a difficult time.

"Every time someone comes out of the office and calls a meeting all the guys are thinking: 鈥榳ho鈥檚 next?鈥� It鈥檚 not a nice feeling at all."

This is what happens when the economy takes a steep downturn. Real jobs and livelihoods at stake.

Subprime

The subprime lending crisis in the United States had a direct impact on Linton Brick. The global credit squeeze rocked the housing market making it harder for first time buyers to borrow money.

Demand for bricks is down 40%

With no new buyers joining the housing ladder, housebuilders stopped building new houses and the demand for Linton's specially made bricks for arches and gables has fallen drastically.

Simon Linton says he wants action from Labour instead of political in-fighting.

"The Government has raised the threshold for stamp duty, and that鈥檚 a step in the right direction. But they could do more.

"I鈥檇 like see them abolish it altogether, offer tax relief for first time buyers and I think they should scrap the HIPs [91热爆 Information Packs] to help kick start the housing market.

"And, believe me, the market needs all the help it can get."