Sat, 2 December 2023

Newsletter sign-up

Subscribe now
The House Live All
The Purpose of Mutual and Co-operative Business in Society Partner content
London’s super sewer is nearly here – but we must keep making progress Partner content
By Andy Mitchell CBE, Tideway CEO
Half a billion reasons to ban unjust broadband and mobile price increases Partner content
Go With the Flow: New Partnership Aims to Revolutionise UK Chemical Production Partner content
Press releases

What does Hammond's first Autumn Budget mean for the built environment?

Eddie Tuttle, Director for Policy, Research and Public Affairs | Chartered Institute of Building

2 min read Partner content

As the Chancellor Philip Hammond delivers his 2017 Autumn Budget, Chartered Institute of Building Eddie Tuttle, Associate Director for Policy, Research and Public Affairs at the CIOB provides its reaction to today’s headline commitments and announcements affecting the built environment.

With productivity growth, business investment and GDP growth all downgraded, a clear solution is to look to construction as an enabler that can allow all of these to improve. We need to be looking to the wider benefits of good public sector investment that go far beyond just economic value, including investment that can provide social, environmental and other hidden value.

The various packages of funding to support the building of more homes – and importantly higher quality homes – is welcome. But it’s not clear how the £44 billion of capital funding, loans and guarantees to support the housing market will be spent. Underwriting borrowing and giving housebuilders guarantees is no substitute for delivering high quality, affordable homes of all tenures.

We are pleased that the Chancellor has listened to the industry on skills provision: research has shown that labour supply has been the biggest source of capacity constraint for the construction industry over the past 15 years. Boosting the quality and quantity of the construction labour force is critical to deliver the homes and infrastructure that the country needs, so the £34m construction skills fund is a welcome policy. However, this will need to be bolstered in the future and further supported by the private sector given that a fifth of the construction workforce is due to retire in the next decade.

Finally, the CIOB is delighted to see that £170 million has been provided over the next three years for innovation to transform productivity in the construction sector. Alongside the announcement that the government will use its purchasing power to drive adoption of modern methods of construction, such as offsite manufacturing, we are pleased that the need to improve construction productivity is being widely recognised and starting to be addressed.

PoliticsHome Newsletters

Get the inside track on what MPs and Peers are talking about. Sign up to The House's morning email for the latest insight and reaction from Parliamentarians, policy-makers and organisations.

Read the most recent article written by Eddie Tuttle, Director for Policy, Research and Public Affairs - The Queen’s Speech - what might it mean for construction?


Associated Organisation
Engineering a Better World

The Engineering a Better World podcast series from The House magazine and the IET is back for series two! New host Jonn Elledge discusses with parliamentarians and industry experts how technology and engineering can provide policy solutions to our changing world.

NEW SERIES - Listen now