Industry praises Chancellor’s plan to boost infrastructure and create new jobs

CECA Autumn Statement

As reported on T4TS News, Chancellor George Osborne has today announced £5.5 billion infrastructure package in his autumn statement, paving the way for new jobs in the building construction sector.

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.”

What it your reaction to the Chancellor’s Autumn Statement announced today? Share your thoughts by commenting here or raising your voice on our Facebook and Twitter pages.

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Posted on December 5, 2012, in Building Construction Industry, Building Engineering Sector, Business, Career change, Construction, construction jobs, construction news, Education, electrician, electrician jobs, Environment, Government, Infrastructure, jobs, Osborne, Politics, t4ts, Technology, Trades, train4tradeskills, Train4TradeSkills News, UK Economy and tagged , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink. Leave a comment.

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