share this page

Autumn Statement 2016: Chancellor right to place productivity centre stage, says CIOB

Published

23rd November 2016

As the Chancellor Philip Hammond announces the 2016 Autumn Statement, the Chartered Institute of Building (CIOB) provides its reaction to the Government’s core commitments to construction and the wider economy.

David Hawkes, CIOB Policy Manager, said: “In the face of rising government debt, the temptation is to cut capital spending. The CIOB welcomes the Chancellor’s announcement to commit greater levels of investment in the built environment, as well as further funding for improving productivity and innovation. Well designed and constructed built assets and infrastructure provide enormous value over time, both enabling and contributing to productivity gains.

“It’s clear that the Chancellor recognises that improving productivity is vital to economic prosperity. In construction, we know what can be done to improve productivity, but require certainty for firms to invest in innovation, skills and training in order to support it. For this reason, we welcome the £23bn National Productivity Investment Fund, to be spent on improving innovation and infrastructure over the next five years. The CIOB’s report into productivity published earlier this year found strong support from industry and MPs for the public sector to invest in construction to help increase productivity. Given this view, we are keen to ensure the fund recognises the contribution that the industry makes to improving productivity in the wider economy.

“Regional investment that adds value throughout the country is also welcomed. Closing the investment and productivity gap between London and the rest of the UK is much-needed - so the funding commitments for housing and local transport networks are particularly encouraging. But for this to work, investment must be tied to training and job creation.

“We are also pleased to see the £13 million support to help businesses improve managerial skills, but await further details on eligibility and distribution.  As the professional body for construction management, we know first-hand the value management professionals bring to the industry, and the high degree of influence they have over productivity through their role in overseeing the workforce and the programme of works. Essentially, investing in management professionals has the potential to transform construction’s productivity.”

A copy of the CIOB report into productivity can be found by clicking here

 

Contact

David Hawkes
01344 630 735

Recent News

After a record 5,000 votes were cast online, the winner of this year’s Art of Building photography competition has been announced as ...

Published: 30th January 2018

Implementing innovation and delivering new technologies were the topics of focus at the Chartered Institute of Building’s (CIOB) scholarship...

Published: 18th January 2018

The Chartered Institute of Building has voiced support for the formation of a New Homes Ombudsman.

Published: 16th January 2018

The Chartered Institute of Building (CIOB) has signed an agreement with a Chinese organisation for joint development of heritage construction...

Published: 14th December 2017

The built environment’s biggest international photography competition, run by the Chartered Institute of Building, opens for voting today with 12...

Published: 11th December 2017