Jason Honeyway, CEO of housebuilder Bellway, has urged the government to introduce an "immediate reduction" to stamp duty and a deposit scheme for first-time buyers to stimulate the market. The request made in the firm’s trading update comes after Prime Minister Andy Burnham ruled out any stamp duty reform in this year’s Autumn Budget, saying the government would focus on making taxation fairer instead. In Bellway’s results update, Honeyway said: “In order to ease affordability constraints and stimulate demand, an immediate reduction in stamp duty alongside a government-backed deposit support scheme for first-time buyers would both drive economic growth and accelerate the delivery of much-needed new homes across the country.” Still, Bellway revealed a 10.8% year-on-year growth in housing completions to 9,695, above its guidance of 9,300 to 9,500 homes. However, while Bellway said there was an improvement in trading in the early spring, it said the rise in mortgage rates had moderated demand.