{"id":35919,"date":"2023-03-17T18:25:10","date_gmt":"2023-03-17T18:25:10","guid":{"rendered":"https:\/\/newsblogsnew.ihbc.org.uk\/?p=35919"},"modified":"2023-03-17T18:25:10","modified_gmt":"2023-03-17T18:25:10","slug":"ihbcs-budget-signpost-from-designing-buildings-and-more-2023-spring-budget-summary-select-responses-and-links","status":"publish","type":"post","link":"https:\/\/newsblogs.ihbc.org.uk\/?p=35919","title":{"rendered":"IHBC\u2019s Budget Signpost, from Designing Buildings and more: 2023 Spring Budget summary, select responses and links"},"content":{"rendered":"<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-35920\" src=\"https:\/\/newsblogs.ihbc.org.uk\/wp-content\/uploads\/2023\/03\/Jeremy_Hunt_Spring_Budget_2023_Open_Gov_Licence_v3.png\" alt=\"\" width=\"300\" height=\"200\" \/>Designing Buildings &#8211; the construction sector\u2019s knowledge base as well as host and partner to the <a href=\"https:\/\/www.designingbuildings.co.uk\/wiki\/Conservation_wiki\">IHBC\u2019s Conservation Wiki<\/a> &#8211; has posted a summary of some industry responses to the 2023 Spring Budget, with more select links on offer to NewsBlog readers from the IHBC.<\/h3>\n<h6><em>image: Open Government Licence v3.0<\/em><\/h6>\n<p><!--more--><\/p>\n<p>For more details see:<\/p>\n<ul>\n<li>Government: <a href=\"https:\/\/www.gov.uk\/government\/publications\/spring-budget-2023\/spring-budget-2023-html\">https:\/\/www.gov.uk\/government\/publications\/spring-budget-2023\/spring-budget-2023-html<\/a><\/li>\n<li><u>Designing Buildings<\/u>: <a href=\"https:\/\/www.designingbuildings.co.uk\/wiki\/2023_Spring_Budget_summary_and_industry_response\">https:\/\/www.designingbuildings.co.uk\/wiki\/2023_Spring_Budget_summary_and_industry_response<\/a><\/li>\n<li>RTPI: <a href=\"https:\/\/www.rtpi.org.uk\/news\/2023\/march\/chief-executive-of-the-rtpi-responds-to-the-spring-budget-2023\/\">https:\/\/www.rtpi.org.uk\/news\/2023\/march\/chief-executive-of-the-rtpi-responds-to-the-spring-budget-2023\/<\/a><\/li>\n<li>RIBA: <a href=\"https:\/\/www.architecture.com\/knowledge-and-resources\/knowledge-landing-page\/what-does-the-2023-spring-budget-mean-for-architects\">https:\/\/www.architecture.com\/knowledge-and-resources\/knowledge-landing-page\/what-does-the-2023-spring-budget-mean-for-architects<\/a><\/li>\n<li>RICS: <a href=\"https:\/\/www.rics.org\/news-insights\/RICSbudget2023\">https:\/\/www.rics.org\/news-insights\/RICSbudget2023<\/a><\/li>\n<li>ICE: <a href=\"https:\/\/www.ice.org.uk\/news-insight\/news-and-blogs\/ice-blogs\/the-infrastructure-blog\/uk-budget-2023-infrastructure-takeaways\/\">https:\/\/www.ice.org.uk\/news-insight\/news-and-blogs\/ice-blogs\/the-infrastructure-blog\/uk-budget-2023-infrastructure-takeaways\/<\/a><\/li>\n<li>FMB: <a href=\"https:\/\/www.fmb.org.uk\/resource\/budget-boost-to-tackle-construction-skills-shortages-says-fmb.html\">https:\/\/www.fmb.org.uk\/resource\/budget-boost-to-tackle-construction-skills-shortages-says-fmb.html<\/a><\/li>\n<\/ul>\n<p>DB writes:<\/p>\n<p>\u2026Early in the afternoon of the 15th of March 2023, Chancellor Jeremy Hunt unveiled what he described as a \u2018Budget for growth\u2019. He did so against the back drop of strikes amongst junior doctors, London Underground, civil servants, teachers, lecturers and BBC journalists. A copy of the full budget is available on the Government website, whilst as summary of key points and responses from industry are given below.<\/p>\n<p><strong>Summary in brief<\/strong><\/p>\n<p>As part of his announcement he stated that \u2018Today the Office for Budget Responsibility forecast that because of changing international factors and the measures I take, the UK will not now enter a technical recession this year.\u2019 He informed British MPs that the British economy was \u2018proving the doubters wrong\u2019 in the face of \u2018enormous challenges\u2019 and a number of measures would boost efforts to get people back to work such as;<\/p>\n<p><strong>Energy<\/strong><\/p>\n<p>The energy price guarantee rise has been axed with the cap remaining at \u00a32,500 for an additional three months to help &#8216;bridge&#8217; the gap as companies wait for wholesale prices to fall. Whilst for homes he said \u2018High energy bills are one of the biggest worries for families, which is why we\u2019re maintaining the energy price guarantee at its current level.\u2019<\/p>\n<p><strong>Development<\/strong><\/p>\n<p>12 new investment zones were announced, that will provide access to \u00a380 million of support for raising skills and infrastructure. Meanwhile, over \u00a3200 million will be invested in local regeneration projects, including in Scotland, Wales, Northern Ireland, the North East, East and West Midlands, Manchester, Liverpool, Teeside, as well as South and West Yorkshire.<\/p>\n<p><strong>Business tax<\/strong><\/p>\n<p>A \u00a31.8 billion package of support for SMEs who spend more than 40% of their total expenditure on R&amp;D, who will be able to claim a credit worth \u00a327 for every \u00a3100 they spend. An expenditure credit rate of 34% for the film and television industry and for theatres, orchestras and museums. The current 45% and 50% reliefs will be extended for two years.<\/p>\n<p><strong>Public funding<\/strong><\/p>\n<p>\u00a3100 million to support charity work that helps struggling families, \u00a363 million to keep public pools and leisure centres open, and \u00a310 million in extra funding over the next two years to help the voluntary sector\u2026<\/p>\n<p><strong>\u2026 Chartered Institute of Building response<\/strong><\/p>\n<p>Eddie Tuttle, Director of policy, external affairs and research at CIOB said: \u2018A number of the proposals in the budget statement will rely heavily on the construction sector, including the creation of new investment zones, growing renewable energy generation and local schemes to improve roads. The prospect of investment in local infrastructure will be welcome news to construction companies across the country.<\/p>\n<p>\u2018Our concern however is that construction is already battling a huge skills gap, and this has to be addressed if the industry can play its vital part in delivering the Government\u2019s growth plans. Schemes to get retired and disabled people back into work are unlikely to help fill many of the more physically demanding vacant roles, however we\u2019re keen to hear more about the proposed \u2018Returnerships\u2019 which could be a good opportunity for older workers to retrain for less physical roles of which there are a growing number in the sector.<\/p>\n<p>\u2018At a time when we\u2019re looking to dramatically improve the diversity of the built environment workforce we were also pleased to hear the Chancellor\u2019s plans on childcare costs which could help more women get into work. It\u2019s important the construction sector now seizes this opportunity and works together with Government to promote the vast range of roles available and the value women can bring to what is typically a male dominated working environment.\u2019\u2026<\/p>\n<p><strong>Association for Project Management response<\/strong><\/p>\n<p>Association for Project Management (APM) has welcomed measures in the UK Government\u2019s new Budget aimed at addressing issues affecting project delivery, but has called for more to be done to help projects fulfil their intended economic and social benefits.<\/p>\n<p><strong>Research outcomes ahead of announcement<\/strong><\/p>\n<p>Research by APM has shown that the UK\u2019s project management sector employs 2.13 million full-time equivalent workers and adds \u00a3156.5bn of value to the UK economy each year. Ahead of the Budget, APM polled 100 senior project professionals about their concerns on issues that might impact the delivery of projects and programmes they\u2019re working on. Nearly 9 out of 10 respondents (88%) said their main project was aligned to at least one government policy, highlighting the important role projects play in supporting government initiatives; both economic and social\u2026<\/p>\n<p><strong>Barbour ABI response<\/strong><\/p>\n<p>Tom Hall, chief economist, Barbour ABI: \u2018The twelve low-tax investment zones announced in the budget could provide a boost for the construction industry in areas which have not rebounded as strongly post-Covid.<\/p>\n<p>\u2018In particular, our research suggests that contract values in the East Midlands have fallen 6% in 2021 and 2022 compared to figures before 2020, even with rising construction costs.<\/p>\n<p>\u2018Meanwhile, other listed areas such as Manchester, Liverpool, West Midlands, Yorkshire and Scotland are currently some of the weaker areas in terms of contract awards value growth, though the Northeast is an outlier, having already experienced 70% growth in the past two years.<\/p>\n<p>\u2018Subcontractors and suppliers would do well to explore these regions in the coming years to take advantage of any opportunities. However, there is a real danger that this will just be a case of moving money around and leaving other areas underinvested in. It\u2019s also unlikely to make any difference to the significant imbalance between London and other regions.\u2019..<\/p>\n<p><a href=\"https:\/\/www.designingbuildings.co.uk\/wiki\/2023_Spring_Budget_summary_and_industry_response\" target=\"_blank\" rel=\"noopener\">Read more&#8230;.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Designing Buildings &#8211; the construction sector\u2019s knowledge base as well as host and partner to the IHBC\u2019s Conservation Wiki &#8211; has posted a summary of some industry responses to the 2023 Spring Budget, with more select links on offer to &hellip; <a href=\"https:\/\/newsblogs.ihbc.org.uk\/?p=35919\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-35919","post","type-post","status-publish","format-standard","hentry","category-ihbc-newsblog"],"_links":{"self":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/35919","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35919"}],"version-history":[{"count":1,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/35919\/revisions"}],"predecessor-version":[{"id":35921,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=\/wp\/v2\/posts\/35919\/revisions\/35921"}],"wp:attachment":[{"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35919"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35919"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsblogs.ihbc.org.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35919"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}