Philip Hammond will present his first budget statement as chancellor of the exchequer on 23rd November . What will it mean for construction , housing and infrastructure ? Pro Installer ’ s Lewis Goldsby-West did some research on what might be in store . The chancellor has hinted that he will use the autumn statement to open up space for the government to aid and support the economy - as households and businesses continue to absorb the shock of the referendum result .

WHAT CAN WE EXPECT ? The chancellor spelt out his vision at the Conservative conference in October which gave us an idea of what sort of direction to expect from the budget later this month . The ‘ fourth industrial revolution ’ seems to be at the forefront of his thinking as he implies that he believes it holds the key to the continuance of Britain ’ s economic success . This has been backed by prime minister Theresa May as she intends to support the chancellor in his promise of “ careful , targeted public investment in high value infrastructure .” This means ‘ big manufacturers ’ and technological advancements may receive large state support and we can possibly expect work on ‘ that certain rail project ’ to be given the green light soon .

WHAT DOES THIS MEAN FOR THE CONSTRUCTION INDUSTRY ? The chancellor addressed the issue of ‘ our stock public infrastructure ’ in his speech as he said : “ Our roads , railways and flood defences languish near the bottom of the developed countries ’ league table after decades of under-investment . All of this must change to build an economy that works for everyone .” He hinted that that there will be large opportunities for construction workers as he believes that putting money into small projects that deliver productivity improvements like rail and road repairs have the best returns , due to the fact that construction can begin quickly as well as the long term benefits .

‘ building a country that works for everyone ’

FUTURE OF HOUSING ? Philip Hammond also admitted the housing shortage would be a challenge he will need to tackle . He said the government would address this problem using all the tools at its disposal as making housing more affordable will again be vital in delivering the ethos of ‘ building a country that works for everyone .’ The chancellor , along with Communities Secretary Sajid Javid , have already announced a £ 2billion investment and a £ 3billion Home Building Fund to help boost housing . However , some media commentators are not convinced this will be enough . However , don ’ t expect there to be much change in this department

come the announcement - as many of the government ’ s targets and spending capabilities have been put on hold as the UK tries to cope with the continued effects of Brexit .

SOURCES INCLUDE : http :// www . mirror . co . uk / money / autumn-statement-2016- date-details-9130271 https :// www . theguardian . com / politics / 2016 / sep / 08 / philip-hammond-announces- autumn-budget-statement-for-23- november https :// www . lovemoney . com / news / 55402 / uk-autumnstatement-2016-date-predictionsrumours

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