Monthly Archives: November 2011
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With making his announcement today in the Commons, Mr Osborne revealed how the government is going to invest billions of pounds in the British economy to ease long-term projects with national importance.
As previously suggested on this blog, today’s announcement will have a huge impact on the construction and building sector. The decisions announced today by the Chancellor are expected to build a stronger economy for the future and boost employment figures.
An increase of £30 billion of the National Infrastructure Plan, which was announced today, will have a profound effect on the construction industry meaning more contracts for businesses in the Building Engineering Sector.
Another extra £5bn in short term projects for infrastructure work will be funded by savings from the Government’s current account spending.
The construction industry was a key point in Chancellor’s speech today. He emphasised on the importance of the reforms which the Government is undertaking to boost the economy and achieve its quite ambitious projections for growth.
Some of the measures announced today in Chancellor’s Statement included ways of encouraging investors to contribute for a more balanced economy, creating a more educated workforce in Britain to be able to compete with the rest of Europe as well as making the UK better place to start, finance and grow a business.
The construction industry is hopeful of Osborne’s decision to make the infrastructure a key priority in Britain. Some 40 priority projects alongside some 500 additional longer-term schemes announced today will create thousands of jobs in the building sector.
What does the Chancellor’s Statement mean for your business? Are you more optimistic about finding jobs in the building sector after Osborne’s announcement today? Let us know what you think by commenting below:
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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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Deputy Prime Minister, Nick Clegg, has announced a £1 billion plan to provide training schemes, apprenticeships and work placements to help young people have better employment opportunities in future.
The £1 million fund will be spent over three years and it will provide job opportunities for young people through a number of subsidies, apprenticeships and work experience placements to hundreds of thousands unemployed people.
Some 160,000 work places will be provided by giving £2,275 to any private sector business willing to hire an unemployed person aged 18 to 24 years old as the full scale of the project is expected to get 500, 000 people back into employment.
Mr Clegg said: “We won’t allow the children brought up in the boom to bear the brunt of the bust. The next generation must not pay the price for my generation’s mistakes. So the coalition government won’t sit on our hands and let a generation fall behind.”
With record number of youth unemployment the government is determined to do everything it can to help young people get a job across every sector of the economy.
In a speech in Leeds later today, Mr Clegg said: “The aim of the youth contract is to get every unemployed young person working or learning again before long-term damage is done. Youth unemployment is an economic waste and a slow-burn social disaster.
“If people are out of work when they’re young, they bear the scars for decades. If they have a false start, they might not ever fully catch up. These are tomorrow’s mothers, fathers and taxpayers. If they end up falling behind, our whole society pays the price.”- The Deputy Prime Minister added.
The new programme is going to start next April. Its main aims will be to get young people into a range of employment sectors – from retail and construction to the green economy.
For example, up to 410,000 work and training placements will be created in England, Wales and Scotland by providing employers with wage incentives equivalent to half of the youth national minimum wage which will create more jobs and boost employment.
What is your opinion on Nick Clegg announcement today? Let us know what you think and comment below:
The government’s plan to improve the energy efficiency of millions of homes in Britain will pump £200 million of new investment into the building industry and give confidence to businesses.
Danny Alexander, Chief Secretary to the Treasury, committed the cash with the aim of encouraging early adopters to take up the energy efficiency scheme for a ‘greener’ and more energy efficient future.
The Treasury will pump the cash into a special time-limited ‘introductory’ offer to boost the early take up of the Government’s Green Deal energy scheme.
Further details of how the funding will be used are going to be announced next year as the Government assesses how best to stimulate early take up to the scheme. The plan is expected to improve the energy efficiency of 14m homes across Britain.
Energy and Climate Change Secretary Chris Huhne said: “This big injection of Government funding delivers on our promise to ensure the Green Deal hits the ground running, and make it as attractive as possible so that people start to benefit from day one.”
As part of the Green Deal, from October 2012 homeowners will be able to take a loan to install insulation or other energy-saving measures to help the environment.
The Government hopes the Green Deal will kick start around £14bn of private sector investment over the next decade – with new safeguards to help small family firms as well as big high street names get involved in the Green Deal. The Scheme could support at least 65,000 insulation and construction jobs by 2015.
Every British home and business will be able to install packages of energy saving technologies such as insulation at no upfront cost with repayments made over time out of the energy savings.
More corporate influence will be given to energy companies which will be required to provide support with an estimated value of £1.3bn a year to ensure everyone is able to benefit from the Green Deal.
Additional help will be available to ensure the “fuel poor” get better boilers and fix draughty homes while subsidy will also be provided to help tackle homes that are hard to insulate, including solid wall homes.
What do you think about the government’s plans for the Green Deal? Let us know what you think and comment below or on the Train4TradeSkills Facebook page.
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Following the government’s announcement on Monday to invest £400 million to build 16, 000 new homes across England and deal with the shortage of affordable houses, leading industry trade bodies have joint forces to boost construction growth ahead of the Autumn Statement which will be announced next week by Chancellor George Osborne.
Industry leaders want to see a rebalancing of public expenditure in favour of capital investment, a cut in VAT for making homes greener and new models for financing major infrastructure which will help the building industry help generate more revenue and boost growth.
The report, Unlocking Growth in UK Construction, outlines the necessary measures which need to be taken for a wider economic recovery and growth in the building sector. It also identifies planning delays, burdensome bureaucracy and weak customer confidence as well as other major barriers to growth in the industry.
The report has been compiled by the Association for Consultancy and Engineering, the Civil Engineering Contractors Association, the Construction Products Association, the Institution of Civil Engineers, the Federation of Master Builders, the National Federation of Builders and the Scottish Building Federation.
The Prime Minister and his deputy announced a number of measures aiming to stimulate the housing market and boost the building sector at the beginning of the week.
Some 32 000 jobs will be created, as building work is expected to begin in July next year to help the housing sector. This will help reverse the slow rate of house building at the moment and help growth.
The fund is aimed to help schemes that are “ready to go” but lack the necessary funding, according to David Cameron and Nick Clegg.
Mr Cameron said: “With this strategy we will unlock the housing market, get Britain building again, and give many more people the satisfaction and security that comes from stepping over their own threshold. These plans are ambitious – but we are determined to deliver on them.”
The report reveals a number of recommendations to unlock growth in the UK construction industry. Some of these are to reduce VAT for sustainable domestic upgrades to 5 per cent, rebalance public expenditure between capital and current spending and ensure banking support to the construction industry to give businesses confidence for growth.
Alasdair Reisner, on behalf of the industry group said: “This report shows that there are concrete measures the government can take to unlock growth in the construction sector, which is itself responsible for more than 7% of all UK economic output.
“It is of crucial importance that the government acts now to reduce bureaucracy in our sector, remove blockages in the pipeline, identify new funding models for infrastructure and ensure that banks are lending sufficiently to both businesses and first time buyers.
What is your opinion on government’s plan to help the building sector? What measures would you like to see in Chancellor’s Autumn Statement on Tuesday? Let us know what you think and comment below: