Chancellor needs to showcase the Government’s long-term commitment to infrastructure investment in the Autumn Statement

The Chancellor needs to showcase the Government’s

Richard Threlfall, head of infrastructure, building and construction at KPMG, highlights what he thinks the Chancellor should address in the Autumn Statement.

1000

Also on KPMG.com

Richard Threlfall, head of infrastructure, building and construction at KPMG, highlights what he thinks the Chancellor should address in the Autumn Statement. He said:

“The Chancellor needs to showcase the Government’s long-term commitment to infrastructure investment at the Autumn Statement. If the Government is confident about Britain’s Brexit future it needs to back its conviction by unlocking a spending programme that invests for the next 100 years of prosperity. On the 23 November 2016, the Chancellor really needs to consider announcing the following:

  • “Herald a new era of direct public sector provision of housing – with housing now the biggest infrastructure crisis facing the country and there is no prospect of Britain building the 300,000 houses a year that we need unless the Government does something radical. Either central Government should raise a £100bn+ housebuilding fund and initiate new garden cities, or they should allow local authorities to borrow and build.
  • “Announce a fundamental fiscal devolution that would give the Greater London Authority and Combined Authorities across the country spending power equivalent to the c 10 per cent of GDP which is the OECD average.
  • “Commit to giving Transport for the North and other proposed statutory regional authorities, direct control over road and rail investment priorities in their regions.
  • “Create a stable environment for private sector investment, in particular in energy, water, digital connectivity and ports, by providing reassurance to domestic and overseas institutional investors.
  • “The other area of major uncertainty for the construction industry is access to labour. 70% of the workforce on Battersea Nine Elms is from overseas. The Government is already besieged with special interest pleading from different sectors so if the voice of construction is to be heard it requires a different message from “we need an exemption”. Far better and more effective for the industry to commit to say a doubling of investment in training, and apprenticeships at twice the numbers implied by the apprenticeship levy, and then ask the Government in return to secure transitional arrangements for labour from Europe.

“The prosperity of the construction industry over the next few years now depends almost entirely on Government policy concluded Threlfall.

ENDS

For media enquiries, please contact:

Nahidur Rahman, Senior PR Manager

T: +44 (0) 20 7694 8812

M: + 44 (0) 788191 6975

E: nahidur.rahman@kpmg.co.uk

Follow us on twitter: @kpmguk

KPMG Press Office: +44 (0)207 694 8773

 

Notes to Editors:

About KPMG

KPMG LLP, a UK limited liability partnership, operates from 22 offices across the UK with approximately 12,000 partners and staff. The UK firm recorded a revenue of £1.96 billion in the year ended September 2015. KPMG is a global network of professional firms providing Audit, Tax, and Advisory services. It operates in 155 countries and has 174,000 professionals working in member firms around the world. The independent member firms of the KPMG network are affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity. Each KPMG firm is a legally distinct and separate entity and describes itself as such.  

Connect with us

 

Request for proposal

 

Submit

KPMG’s new-look website

KPMG has launched a state of the art digital platform that enhances your experience and provides improved access to our content and our people, whatever device you are on.