Millennial bribes Budget, driverless transport and homes for all

  • 21 Nov 2017

howardchapmanHoward Chapman, Buildingtalk Editor, on how the government plans to help the economy grow after Brexit and will offer a Budget to boost the building industry.

The UK is no longer the fastest-growing G7 economy with the Brexit helping make us the slowest. We also have the highest inflation of the ten major EU economies and now London is losing the European Medicines Agency to Amsterdam and the European Banking Authority to Paris, in one of the first concrete signs of the ‘Brexit effect’.

On Monday, the Prime Minister Theresa announced 4 billion pounds of spending on research and development and regional growth strategies, setting out plans to help the economy grow after Brexit.  We look forward to tomorrow’s Autumn Budget for more positive changes. Here are some of the predictions based on the widely trailed hints to the media

Budget for the construction industry?

Speaking on the BBC’s Andrew Marr Show, the chancellor warned that there is no ‘single magic bullet’ to increase housing supply. However, he wants to speed up developments where planning permission has been granted and give more help to small building firms that have been increasingly muscled out of the housebuilding market.

Richard Beresford, chief executive of the National Federation of Builders (NFB), said he was glad that Mr Hammond has recognised the need to enable SMEs to help fix the broken housing market. “We look forward to seeing Mr Hammond match his sensible words with sensible housing and planning policies in the Autumn Budget. Construction SMEs can help to get Britain building but we must be realistic about deliverable solutions. The NFB has always been clear that the best way to get Britain building is to empower SMEs, the engine of the economy.  Every £1 invested in construction generates £2.84 in wider economic benefits, while for every £1 invested in an SME, 90p is spent on local employment, local apprentices and growing the local economy”.

The government has also unveiled a new £1.7bn fund to boost transport connections in and around UK cities. The Chancellor is also expected to announce a £76m fund for digital and construction skills.

Read what Max Banner, Buildingtalk Online Editor, said about what the Budget could mean for the construction industry.

300,000 new homes a year

Under pressure from Communities Secretary Sajid Javid and young voters struggling to find a home, Philip Hammond has already announced that 300,000 new homes will be built a year. But how many will be truly affordable social housing? And will they be built on the greenbelt?

It is nonsense to expect developers to be the solution. I support Javid’s demand for £50bn spending on Housing Association and Local Authority schemes. We need to remember that the last real housing building boom began in the early 1950’s despite real austerity including food rationing. So it can be done.

Driverless cars

Driverless cars, buses, lorries and taxis are going to revolutionise road transport.

The Treasury are to spend £400m on electric car charge points, £75m on artificial intelligence, and £100m to boost purchases of clean fuel cars. The borough of Wandsworth, where I live in London, is already planning for charge points on every street. According to the Chancellor we can expect driverless cars on our roads by 2021.

Millennial bribes

Leaked Budget plans also include cheaper travel via a ‘Millennial Railcard’ for the under-30s and rumours that Hammond will also scrap stamp duty for first-time buyers.

Budget for Foodbanks

On my wish list is for the government to cut the payment delay of the new benefits system. There are rumours it could be cut from six to four weeks but they should do better than this to reduce the misery that delays have caused our poorest citizens who now have to rely on Foodbank handouts to survive.

Look out for the construction industry post-Budget report via Buildingtalk on Twitter

Sign up for the free Buildingtalk newsletter for the latest construction news and product updates plus your opportunity to comment.

Leave a Reply

Latest news

BMI

BMI work sees seven eco-friendly roofs improve health in Hattersley

As part of its own contribution to improving air quality, NHS Property Services chose to replace the roof of the Hattersley Health Centre in Hyde, Greater Manchester, with the help of BMI.

Posted in Articles, Building Industry News, Building Products & Structures, Case Studies, Health & Safety, Posts, Restoration & Refurbishment, Retrofit & Renovation, Roofs, Sustainability & Energy Efficiency

ASSA ABLOY

ASSA ABLOY Project Specification Group stresses importance of safety over cost this Fire Door Safety Week

Project Specification Group, a unit of ASSA ABLOY Opening Solutions UK & Ireland, says the drive to reduce cost must not be allowed to compromise the safety performance of a building, ahead of Fire Door Safety Week.

Posted in Access Control & Door Entry Systems, Articles, Building Industry Events, Building Industry News, Building Products & Structures, Building Regulations & Accreditations, Doors, Exhibitions and Conferences, Health & Safety, Security and Fire Protection, Seminars

Aggreko
Gilberts Blackpool

A breath of fresh air in new airport terminal with Gilberts

How do you ensure a fresh, comfortable environment in an internal space the size of 11 football pitches, which can accommodate the transfer of up to 55 million people a year? Gilberts Blackpool have the answer…

Posted in Air Conditioning, Articles, Building Industry News, Building Services, Case Studies, Heating, Ventilation and Air Conditioning - HVAC, Restoration & Refurbishment, Retrofit & Renovation