The Autumn Statement - What it means for the construction industry

As Chancellor Philip Hammond delivers his first Autumn statement, we look at what this could mean for construction and infrastructure in the UK, and how this should in turn lead to more jobs.

Infrastructure

The Treasury has already set aside £1.3bn to tackle congestion as part of an expected £5bn stimulus package focused on Britain's roads and railways; and Mr Hammond has previously put the country’s infrastructure including energy plants and building projects at the forefront of his plans.

It has also been predicted that spending on improving the skills of the workforce will also be favoured.

Housing

A £2.3bn housing infrastructure fund will help to create 100,000 new homes in areas of high demand, with an additional £1.4bn set aside to construct 40,000 affordable homes.

Steve Davies, MD of Kalcrest commented: “Inevitably the introduction of these measures, and funding in both the areas of housing and infrastructure, should have a knock-on effect to the requirement for more construction workers, which is obviously our area of specialism.

The funding will certainly be a welcome injection to bolster building in the construction industry.”