Posts tagged Autumn Statement

Housing Minister reveals funding to speed up building of new homes

Housing Minister Mark Prisk Reveals new fundingThe housing minister, Mark Prisk, said to bring forward the development of 6,300 new homes by providing fresh funds to support the building industry.

The Minister announced £20 million of fresh investment to accelerate the construction of 6,300 homes at the new town of Cranbrook in East Devon, paving the way for employment opportunities in the trades and boosting the construction sector.

Mr Prisk visited the new community of Cranbrook to see first-hand how a partnership approach to development is reaping impressive results from government investment.

Aside from the construction of new homes, he also announced that the money would be used to deliver the roads and infrastructure needed to develop a new town centre, with the remaining funds supporting the construction of a new secondary school and a second primary school as part of the next phase of Cranbrook’s development.

This investment in infrastructure is expected to accelerate the pace of the delivery of new homes from 300 a year to up to 500.

Today’s announcement is the first allocation of £225 million earmarked by the chancellor in his Autumn Statement for the delivery of 50,000 new homes in large, locally-supported housing programmes.

The funding programme for planned, large-scale sites, administered by the Homes and Communities Agency, will be targeted at schemes that are struggling to move forward because of the current economic climate.

Housing Minister Mark Prisk said: “This government is serious about building more homes. That’s why we have been looking carefully at how we can accelerate large, planned housing schemes that already have the support of local people, but need help to move forward in the current economic climate.

“So I’m delighted that today I can announce our intervention will help unlock the delivery of over 6,000 new homes in Cranbrook, and create thousands of jobs for local people.

“In the months ahead I will be announcing support for similar schemes. That means more investment, more jobs for our young people and more affordable homes for families across the country.

“We have set aside considerable funding to assist large housing programmes like Cranbrook, and I would urge anyone with similar proposals to come forward and contact my department.”

What is your reaction to the new funding announced by Housing Minister Mark Prisk that will create new jobs and boost the trades? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.

Industry praises Chancellor’s plan to boost infrastructure and create new jobs

CECA Autumn Statement

As reported on T4TS News, Chancellor George Osborne has today announced £5.5 billion infrastructure package in his autumn statement, paving the way for new jobs in the building construction sector.

The infrastructure investment package will be funded by welfare cuts and a reduction in other Whitehall departments. The latest revelation by the Chancellor represents a firm commitment by Government to boost construction projects and create new jobs.

The Civil Engineering Contractors Association (CECA) said that today’s autumn statement demonstrated that the government was listening to the needs of the infrastructure sector.

In advance of today’s statement CECA had worked with other industry bodies to press the case for immediate action to unlock activity in the sector.

Based on analysis of figures published today, CECA believes that around £775 million of work will be release in 2013/14 as a result of the Chancellor’s actions. More than £1 billion further additional work is due to follow the next year.

Commenting, CECA director of external affairs Alasdair Reisner said: “CECA has long argued that there is a pressing need for the government to take action to unlock new work in the infrastructure sector to achieve growth in the economy.

“Today’s Autumn Statement show that the government has listened. A combination of new projects and investment in repair and maintenance work offers the potential of additional work worth £775 million for CECA members in 2013/14.

“Investment in the infrastructure sector offers the best rate of return, but for larger infrastructure projects it can take time for these benefits to be realised, particularly due to the planning system.

“It is thus vital that government and industry work together to identify ways of unlocking work in the sector that will show an immediate benefit.

“By announcing new work in the fiscal year, the Chancellor has recognised the need to stimulate infrastructure activity in the short as well as the long term, as the best means of returning UK plc to economic health.

“Clearly we will need to be sure that this is genuinely new money, rather than recycling of funds that would otherwise have been spent on infrastructure elsewhere. But on the face of it, this appears to have been a good Autumn Statement for the industry.”

What it your reaction to the Chancellor’s Autumn Statement announced today? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.

George Osborne set to announce £5bn construction boost

HM Treasury G. OsbourneChancellor George Osborne is expected to announce tomorrow an extra £5bn of investment for capital projects in the construction industry that will boost the trades and create new jobs.  

In the Autumn Statement, set to be announced tomorrow at 12:30 GMT in the House of Commons, the Chancellor will demand departmental savings of 1% next year and 2% in 2014/15 to raise extra cash for construction projects across the country.

The Statement provides an update on the Government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility. These forecasts are published alongside the Autumn Statement on 5 December.

At least £1bn of this is understood to have been earmarked to build an extra 100 new free schools and academies, but the move raises hope that there will be extra cash for housing as well as transport schemes.

Health, education, HM Revenue and Customs and nuclear decommissioning will escape his latest spending cut as well as frontline staff. Mostly savings will come from administration and back office staff.

Treasury sources say £1bn will go towards building 100 new free schools and academies, creating an additional 50,000 new school places.

The new cash for school will be in addition to the new PF2 schools programme that the industry has been eagerly awaiting, which will see £1.75bn spent on building and refurbishing 219 schools.

Construction Sector Hires More Workers

There has been a significant increase in the number of vacancies advertised in the building construction industry, despite the negative forecast on UK unemployment figures to reach almost 3 million by the end of this year.  

Recruitment consultants have reported an increase in construction vacancies for the first month of this year. One of the UK’s largest construction engineering recruiter has reported a rise of more than 50% in the number of advertised construction vacancies on their website, careerstructure.com.

Data published by the Recruitment and Employment Confederation (REC) has shown that engineering and construction workers were the most sought after employees in the UK. In contrast, the demand for hotel and catering staff has significantly declined according to the last survey from this year.

The Chartered Institute of Personnel and Development (CIPD) has published a report suggesting unemployment will continue to rise. However, the building construction industry is expected to continue to hiring more workers due to recent infrastructure projects and significant government investment.

The government has invested £5 billion towards infrastructure projects announced in the Autumn Statement in November, by Chancellor George Osborne. This has proven a positive incentive for the industry in regards to the progressive requirement as a result of business confidence and growth in the construction sector.

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