Mando Solutions

Autumn Budget For 2017

Mando Solutions are greatly encouraged to see that the government have recognised and are addressing the shortage of skilled workers in the construction sector with their planned investments. We hope to see a huge growth in the sector to pave the way for the future generations of skilled construction workers. We think this is a positive message for our industry.

Autumn Budget for 2017

Phillip Hammond announced the Autumn Budget for 2017 today, and it has some good news for the construction industry.

What will happen?

Construction output has been down in the second and third quarters of this year, reaching a drop of 0.9% in the third quarter. The construction industry is vital to our economy and so government have budgeted to improve our construction output. Their focus will be on training as, along with digital skills, there is a huge shortage in construction skills in the UK. There is also a push for the ‘adoption of modern methods of construction’. Not only will external training be a focus, but employer-designed training will also be an important factor in improving the construction industry and construction skills will now be the focus for the National Retraining Scheme.

What is to be invested?

The autumn budget for 2017 has budgeted an investment of £170 million to be invested into the construction sector. This investment is said to ‘transform productivity’ in the sector. This investment will be through the Industrial Strategy Challenge Fund. From the £170 million, £34 million will be invested to ‘scale up innovated training models’, with £5 million alone being invested into training in the West Midlands.

Autumn Budget for 2017

 

All of our information has been taken from the online budget.