Building and Construction Industry – a key priority for the Government

The autumn statement, which will be revealed tomorrow by George Osborne, is set to contain a £5bn boost for infrastructure investment which will improve contractors’ order books over the next three years.

The Chancellor’s announcement will also contain further spending plans for future projects in the building and construction industry across Britain.

Construction companies will also be able to benefit from proposals to unlock £40bn of bank lending to small businesses by underwriting loans with Government guarantees. These measures are expected to help economic growth and boost employability.

The chancellor told BBC One’s Andrew Marr Show: “The government will underwrite the loans the banks make to small businesses in order to cut the interest rates the small businesses pay.”

Mr Osborne outlined priority schemes which will include the TransPennine express line between Leeds and Manchester, the Metro system in Tyne and Wear and improvements to the M25, M56 and M3.

The multi-billion investment is expected to be taken from further spending cuts as most of the money will come  from big British pension funds, as well as Chinese investment.

Some of the initial £5bn will help fund a £600m school building programme planned before 2014 which is expected to generate more building contracts in the next three years.

What are your thoughts on Osborne’s announcement tomorrow? Is there anything you would like to hear by the Chancellor which is not already in the Autumn Statement? Let us know what you think by commenting below: 

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