Autumn Statement of Intent
There’s a cautious welcome for investment in housing, construction and infrastructure in Chancellor Philip Hammond’s Autumn Statement.
Spending plans included a £2.3bn housing infrastructure fund to help provide 100,000 new homes in high-demand areas and £1.4bn for 40,000 extra affordable homes.
Another £1.1bn was set aside for local transport improvements. There are potential multi-sector and local economic benefits depending on the details of the plans.
Politicians and economists have drawn swords over the Office for Budget Responsibility’s (OBR) downgraded growth predictions and its estimation that Brexit will cost the nation £60bn in lost growth.
As a leading independent firm multi-disciplinary firm of property professionals serving London, Hampshire and the South, we have strong overview of multiple sectors.
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Analysts are right to raise the issue of increased debt and raised Government borrowing but it is also encouraging to see a focus on investment in infrastructure and housing.
As a Royal Institution of Chartered Surveyors (RICS) registered firm with several RICS Fellows among our staff, we keep a keen weather eye on its position.
Jeffrey Matsu, senior economist at RICS, described the budget as one of ‘fiscal recalibration rather than reset’ in a measured response to the Statement.
You can read more here: www.rics.org/uk/news/news-insight/comment/autumn-statement-economic-assessment-navigating-rougher-seas-ahead/
In New Civil Engineer the focus is on the new £23bn National Productivity Investment Fund and infrastructure investments – including £1.1bn to reduce congestion and upgrade local roads and public transport – as well as the £2.3bn Housing Infrastructure Fund.
This will be used for projects such as roads and water connections that will support the construction of up to 100,000 new homes in areas where they are needed most.
Another £1.7bn will be used to speed up the construction of new homes on public sector land.
You can read more here: www.newcivilengineer.com/latest/autumn-statement-2016-infrastructure-investment-tops-agenda/10015107.article?blocktitle=News-Insight&contentID=13613
We’ve seen demand continue to grow across the South for our comprehensive range of expert multi-disciplinary services.
Growth remains strong and confidence in our bold vision for expansion is complemented by our newly launched motto, ‘Professional Solutions by Design’.
Our clients include the Ministry of Defence, Interserve, Debut, universities, schools, health authorities and private clients of all sizes.
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There’s a cautious welcome for investment in housing, construction and infrastructure in Chancellor Philip Hammond’s Autumn Statement. Spending plans included…