Taylor Wimpey Supports Labour's Ambitious Housing Plans Despite Profit Drop

UK's second-largest housebuilder sees planning reforms and potential interest rate cuts as key to future growth.

• Taylor Wimpey backs Labour's target of 1.5 million new homes over five years.
• The company's profits fell nearly 60% in the first half of 2024, partly due to increased cladding removal costs.
• CEO Jennie Daly emphasizes the necessity of ambitious housing targets to address long-standing deficits.
• Taylor Wimpey expects a surge in housebuilding in the second half of the year, aiming for up to 10,000 completions.
• Potential interest rate cuts by the Bank of England could boost market demand and affordability.

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