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Construction And The Upcoming Budget

The 2018 Budget is set to be announced at the end of this month – so we’ve come up with some things we’d like to hear for the Construction Industry. Here’s a couple of things we’d like to see in the speech.

House Building. 

The Budget As we’ve mentioned in our previous post, The Construction Sector And House Building, it’s looking good for the construction of property at the moment. It would be good to see a mention of this in the Budget, along with some help for companies to build more houses to reach Government house building targets.

If house building received yet another boost in the Budget it could be beneficial for the whole industry. Not only would the house building sector grow with more investment, it would be good for the rest of the Construction Sector. House building is already a strong element of Construction, so if the Government encouraged growth it would be great for the overall industry.

Large Scale Projects.

House building is one aspect of the industry, but there are others. Which is why it would be great to see a commitment from the Chancellor for any large scale projects or investment for the country. This would be beneficial to the Construction Industry as it would grow other areas of the sector along with house building.

Any mention of a large scale project, development, or investment would be good for the construction industry because of this. If there isn’t, the industry will be alright – but it would be good if there was something else for Construction in the Budget.

Addressing The Skills Shortage.

It’s well known there’s a skills shortage in the sector at the moment. Which is why it would be good to see something to address this further in the Budget. We’re not 100% sure what exactly this could be – maybe the option for more training as mentioned in the Construction Sector Deal earlier this year. Because this is a big issue, it would be great for the Government to address this problem in the speech.

Good News For The Economy.

Alright, so this one isn’t solely about the Construction Sector. But good news for the economy, or at least some okay figures, can be great for Construction as it means the economy is in a good place. Or an alright one anyway. A good economy might also lead to more investment, and an increase in house buying – which would be great as there are so many houses being built.

Commitment To The Construction Sector Deal.

The Government have already released the Construction Sector Deal – we wrote this post about it a few weeks ago. But it would be good if they’d at least mention it – to say that they’re working on something. Or have invested in a part of it maybe.

At this point, there’s no way for us to know what will be in the Budget. These are just a few things which if mentioned would be good for the Construction Sector. There might be more which could be good too – or even some great things we haven’t thought about. It’s a little unpredictable at this point to guess what will definitely be in there.

Over the course of the next 12 months there’s also Brexit which has been causing a lot of uncertainty in the industry – so much that we wrote this post about it months ago. When that happens, this uncertainty could be affected. Or at least Brexit itself will be over, so it might just be the aftermath of it causing the uncertainty. Again, there’s no way to really know.

The 2018 Budget is at the end of this month. Our next post will be looking into what there actually was for the Construction Industry in it.

 

 

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Relevant Posts

The 2018 Budget And Construction

A Look Into The New Construction Sector Deal

The Construction Sector And House Building

The Impact Of Brexit On The Construction Industry