Posts tagged new investment
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.”
House builders will have the chance to put their bids forward to deliver major building work which could boost the London economy by £2 billion and create new jobs in the construction industry.
According to the Mayor, injecting such significant investment in the housing market could contribute £1 billion worth of construction projects across the city.
The Mayor has said that all ‘reusable investment’ from this funding boost will be reinvested for the building of more affordable homes over the next decade.
Motor Johnson said “To improve the housing choices of those who work to make this city the fantastic place that it is, I am opening up the market, cutting red-tape and injecting £100million worth of investment to stimulate supply.
“The programme we are announcing will not just unlock the door to home ownership for thousands more Londoners, it will give a welcome shot in the arm for jobs in the capital’s construction industry and spur wider economic growth too.”
The first homes are expected to be available for sale in early 2013 with completions ranging up until March 2016.
Trade Minister Lord Green and Olympic Ambassador Sebastian Coe vowed today to build on the success of the Olympics and Paralympic Games by working with industry to promote British skills around the world.
An Olympics Legacy programme of trade missions and companies in the building construction sector will build on the successful completion of the Olympic venue which is set to bring £13 billion to the UK in the coming months and years.
Olympics Legacy Ambassador to the Prime Minister, Sebastian Coe, said that the Olympic legacy which London 2012 left is ‘once-in-a-lifetime’ opportunity to showcase British business excellence to the world.
Coe, who is also a double Olympic Champion and 12-time world record holder in athletics, said: “The extraordinary success of the London 2012 Games has shown the best of Britain to the world and now our focus turns to securing a lasting legacy. We have already witnessed the incredible regeneration of east London, with world class facilities and a new urban park created.
“We now need to ensure that organisations up and down the country use the positive impact generated by the Games to reach out to new markets and grow their businesses.
“The British Business Embassy at Lancaster House has brought together business leaders from the UK and all over the world in a showcase of Britain’s industrial strengths and successes.”
Trade and Investment Minister, Lord Green, said that the Games have provided excellent chance to enhance Brittan’s business links with the rest of the world that will bring significant investment to the economy.
Mr Green said: “The British Business Embassy has hosted 4,000 business people from large and small firms alike. The connections they have made will deliver real economic dividends.
“We are now working hard, alongside firms around the country to follow up the contacts, networks, announcements and momentum created by the Games.”
Plans to build a new £600 million shopping centre in Leeds will create thousands of jobs in the building engineering industry as one of the of Britain’s biggest high street retailers, John Lewis, has secured a deal to build a 258,000 sq ft anchor store near the development of Eastgate Quarters in Leeds city centre.
The first phase of the development, which is called Harewood, would also create two new shopping streets leading to the Victoria Quarter which will include 30 shops, six restaurants, and a multi-storey car park on the site of Leeds’ former police station.
Work on first phase of the development is expected to start in spring 2014 and it could be open by 2016, if plans submitted to the city council next year are approved.
A low-carbon energy centre for the scheme has been consented which will provide heating, cooling and electricity required by the development, with the opportunity to also support neighbouring homes and businesses.
As a result of the multi-million development, the retail led scheme could generate up to 4,000 jobs in the building engineering sector, providing more employment opportunities for plumbers, electricians and gas engineers.
Councillor Keith Wakefield, leader of Leeds City Council, welcomed the announcement describing it as excellent news for the city centre and the people from Leeds as a whole.
Mr Wakefield said: “All the parties have been working behind the scenes for some months now to facilitate an agreement which enables work to begin on this important development. So to know that we now have a clear timetable from Hammerson is really exciting.
He added: “Eastgate Quarters is a hugely significant development for the city which will enable our retail sector to compete with other British cities and attract international visitors and investors. It will bring thousands of new visitors to the city as well as creating a significant number of jobs for local people.”
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Housebuilder Persimmon Homes has revealed a £800 million investment plan to build 5,000 new homes across Wales that could create and support 10,000 jobs in the supply chain according to government estimates.
The announcement comes immediately after the company’s newly appointed Managing Director for Wales, Glyn Mabey, showed a sheer determination and strong commitment to head up the £800 million plan to build thousands of new homes in Wales.
The significant investment is expected to boost the building construction industry, create new jobs and provide employment for people in the trades. Mr Mabey believes that building new homes needs to be taken seriously by politicians and local government.
He said: “Aside from providing homes for a great number of people, which is important in its own right, we create a huge number of jobs on site and through our supply chain. The more we do the more jobs we create. It really is that simple”
Following the appointment of Mr Mabey, who will also be responsible for the Charles Church and Westbury Partnership brands in Wales, Persimmon is planning to open a new head office for the West Wales region, making an additional investment around the Swansea area that will benefit communities and boost the local economy.
Mr Mabey believes this additional expansion to company’s already strong presence in East Wales will continue to grow, becoming part of the fabric of the communities in which the company operates.
Mr Mabey said: “Having covered both England and Wales in my career I remember a time when Welsh Local Authorities and politicians were hugely proactive, creative and welcomed development with open arms, recognising the wider economic benefits it brought and the wealth creation generated by the economic activity. “
“We need to get back to that and Politicians and Officers need to show leadership and bravery to kick down hurdles preventing development from happening, rather than constantly allowing new layers of regulation and bureaucracy which slows everything down.” added Mr Mabey.
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“Green Investment should play a key role in the UK’s economic recovery” states a new report by the Environment Audit Committee published today.
The new report, “A Green Economy” reinforces calls by the Renewable Energy Association (REA) for the Government to put renewable energy at the heart of its economic recovery and employment strategy.
The Report on employment and skills in the UK renewable energy published last month showed that there were over 100,000 people employed in renewable sector across Britain, generating a turnover of £12.5 billion last year alone.
However, the REA is warning that there is a danger for Britain not to fulfil its full potential because of serious skills shortages and uncertainties in the policy framework.
The organisation which represents renewable energy producers in the UK, says that 400,000 people will be needed in the sector by 2020 to meet binding EU targets, suggesting that the renewable industry will need a skilful workforce to deal with continually increasing demand.
Chief Executive of the REA, Gaynor Hartnell, said that the government needs to understand the potential benefits of renewable energy investment.
Ms Hartnell said: “Several countries, from America to Japan to Germany, have realised that taking the long-term view and investing in renewables is a significant step on the route out of economic malaise. The UK renewables industry wants to work with the Coalition Government to realise the huge contribution our sector can make to jobs, growth and prosperity.”
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Proposals for a £50 million hotel scheme to be built in Southampton have been given the green light by planning officials in Southampton City Council. The new development, which will include a luxury hotel with a restaurant and a rooftop bar, is likely to boost the building construction sector and create new jobs in the city, Career Structure News has reported.
Development plans submitted by MDL Marinas include the building of 82 flats, a variety of shops and restaurants as well as office space to let. Tenders for building construction work are expected to be announced within weeks, as work is expected to begin this autumn.
Managing Director at MDL Marinas, Eamonn Feeney, said: “We are delighted with today’s decision which will enable us to deliver the final stage of the master plan for Ocean Village Marina, and most importantly create a vibrant waterfront destination for the city.”
Director of Economic Development at Southampton City Council, Dawn Baxendale, welcomed the decision for the major development and said that it will bring a lot of benefits to the city.
Ms Baxendale commented: “This is excellent news for Southampton and I congratulate MDL Marinas for getting their planning approved.
“The scheme demonstrates that serious investors believe Southampton represents their future and is a city that is becoming comparable with the best in Europe.”
Do you welcome the approval of Southampton City Council to give the green light for the £50 million hotel scheme? Share your thoughts by leaving a comment below:
Building and Construction contractors will be able to take pride and promote their businesses for the good work they have done in building the Olympic venue for London 2012 the day after the closing ceremony of the Olympics, Sports Minister Hugh Robertson has confirmed.
Marketing and regulation rules imposed under the London Olympic Games and Paralympic Games Act 2006 prevents contractors from publicising their contribution in the construction of the Olympic venue until 13 August 2012, the day after the closing ceremony.
Currently, contractors are banned from mentioning their names in relation to the Olympics. This measure is considered to be designed to protect the official sponsors of the Games.
Tessa Jowell, a former Olympics minister, raised the issue in Parliament this week saying that it’s vital for British contractors to be able to advertise the good work they have done, this then would help Britain’s construction sector in the future.
Labour MP Jowell said: “Those businesses that have done so well and are rightly proud of their contribution to this year Games are too tightly bound by the marketing rights protocol which is preventing them from revealing the part they have played.”
What’s your reaction to the measures taken by the government to prevent contractors mentioning their names before the end of the Olympics? Share your thoughts by leaving a comment below:
The man in charge of building the Olympic venue for London 2012, John Armitt, has told Reuters News that this summer’s Olympics will be a great advertisement for Britain’s construction sector.
The Olympic venue was successfully completed both on time and within the £7 billion budget. This serves as an excellent stimulus for boosting British construction and as an example to building companies around the globe.
Armitt, who is a chairman of the Olympic Delivery Authority (ODA) and responsible for the Games infrastructure, believes the Olympic Park in East London will be a great showcase for courtiers around the world to look at the knowledge and the skills of Britain’s building engineering construction industry.
Talking about the legacy of British construction and pointing out the great achievements in the building sector, Mr Armitt said: “British contractors and consultants have been delivering infrastructure around the world for the past 200 years.”
“What this enables them to do is reinforce those credentials in the overseas markets. The Olympics is an opportunity for us to build our self-confidence as a country.”- added Mr Armitt.
What is your opinion on the successful completion of the Olympic Park for London 2012? Do you think it will help British construction businesses to get work abroad? Share your thoughts by leaving a comment below:
Today the Co-Operative revealed it has reduced greenhouse emissions by 35% and made significant savings whilst optimising performance and using less energy resources, as well as making a contribution towards the environment.
The group, which employs more than 120,000 staff in the UK, has invested £1 billion in renewables and energy-saving measures aiming to reduce carbon emissions and preserve the environment.
This, and more recent investments are expected to boost the renewable’s industry, which would create new jobs and more employment opportunities for existing professionals in the renewable energy sector.
The Co-Operative has also announced a series of new targets for this year, including generating a quarter of its energy needs from renewables by 2017 and cutting water consumption by a third. The group is planning to reduce the greenhouse gases of its operations by 50% in the next 8 years and has committed £700 million to renewable energy.
The group’s Chief Executive, Peter Marks, said that the savings of £40 million is the result of a number of environmental measures for greater responsibility towards the environment and adopting more efficient methods of doing business in future.
Mr Marks said: “Despite the economic downturn, we have remained true to our pledge to show the way on corporate responsibility. The one million new members we now have bears testimony to the continued support we have from our customers.”
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The decision of Camden Council to expand its list of maintenance and repair contractors will offer more opportunities to existing and new professionals in the building sector. The repair framework of Camden Council is expected to be worth around £14 million each year, meaning a significant incentive for a variety of firms in the building sector.
The Council’s current in-house contractor, DLO, has been working for sustainable development across some of its 33,000 housing stock; the additionally appointed contractor would work alongside council’s existing contractor which will carry out a separate £11m programme of housing work.
Camden Council will expect both, its current and newly joining contractors, to be working together in order to improve working systems and optimise existing procedures. The Council’s new maintenance contract will start in January 2013 initially for 5 years with the potential of the scheme to be extended by another 5 years.
Do you welcome the decision of Camden Council to put half of its housing repairs for an external contractor? What are your expectations of finding employment following Council’s decision? Share your thoughts by commenting on the Train4TradeSkills’ Facebook and Twitter pages:
The new £340 million headquarters of UBS in London’s financial district is expected to be completed by 2014, meaning it could create more jobs for people in the building construction sector.
The Swiss bank has signed a pre-letting agreement with developers British Land and Blackstone for the construction work to start in April this year. Demolition and site preparation work near Liverpool Street station is currently underway, leading publication, Construction Enquirer, reported today.
UBS is the largest tenant in the 30-acre Broadgate development in London’s City financial district which will include four trading floors that can be adapted into normal office space.
The new building will pay attention to sustainability using photovoltaics and solar thermal panels to generate green energy while rainwater harvesting will reduce water consumption.
British Land said: “Demolition of the existing 4 & 6 Broadgate buildings is well underway and will be completed in April; with delivery of the new bespoke building on schedule for the first quarter in 2014.
“The joint venture has already placed or tendered around 60% of the project’s construction costs within budget and programme.”
Tim Roberts, Head of Offices for British Land, told Construction Enquirer: “This is another significant milestone in the development of the new UBS building at 5 Broadgate and a real boost for the City.
“The Broadgate estate continues to evolve to serve the needs of a range of city occupiers and the 30,000 people based there.” – Mr Roberts added.
The two developers, British Land and Blackstone, said UBS will occupy the new building for period of around 18 years.
Do you welcome the move of the Swiss bank giant UBS to build its headquarters in London? What does the £340 million investment mean for the building construction sector? Share your thoughts with us by leaving a comment below: