Civils contractors today welcomed measures in the first Labour Budget for fourteen years by saying they provide a ‘blueprint’ for sustained economic growth.
Chancellor of the Exchequer Rachel Reeves MP unveiled her first Budget earlier this afternoon, in which she laid out the Government’s plans to “invest, invest, invest.”
Commenting, Director of Operations for the Civil Engineering Contractors Association (CECA) Marie-Claude Hemming said: “The infrastructure sector in the UK is primed to deliver on the Government’s ambitions to drive growth in the economy.
“While undoubtedly this Budget contains tough measures that are aimed at ameliorating the UK’s constrained economic position, the Chancellor’s decision to alter her fiscal rules to allow investment in infrastructure is one that CECA has called for in recent weeks.
“It is right that the Government maintains a strong commitment to controlling day-to-day spending while creating headroom to allow for investment in a long-term infrastructure programme to secure the economic and social wellbeing of UK plc.
“We are particularly pleased to see the Chancellor make a commitment to rail upgrades such as the Transpennine upgrade, putting funding in place to link HS2 to Euston, and increased funding for local roads maintenance.
“In addition, plans to roll out carbon capture and storage schemes and new green hydrogen projects will act as a basis for allowing Great British Energy to play fufil its role in transforming Britain into a clean energy superpower.
“This renewed focus on delivering growth and streamlining planning will allow projects to move more quickly to market, allowing our members to serve businesses and communities in all parts of the country by delivering the world-class infrastructure we all rely upon.
“The success of the Government’s plans will rely upon unlocking all potential sources of infrastructure finance and working closely with industry to ensure the skills are in place to deliver the planned pipeline of schemes.
“CECA stands ready to work with our members, the Government, and the entire supply chain, to ensure that the UK’s infrastructure sector is primed to deliver on this blueprint for growth and build a better future for businesses and communities across the UK.”
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