Reacting to yesterday's (20 March) Budget, BSRIA ceo Andrew Eastwell acknowledged that it 'contained quite a lot for construction'.
'True, it was hardly a green budget but the energy measures in support for two new carbon capture projects, removal of the ceramics industry from the climate change levy, support for shale reserve development and the recent announcement of the first new reactor for decades will lead to welcome construction gains,' he said.
'With so very little to give away, the Chancellor has chosen to use what spare money there is protect the reduced 0.6% growth now expected by the OBR in 2013/14. Housing gets significant attention with welcome boosts for additional buyer support in shared equity schemes and interest free deposit loans on new houses.'
In addition, Mr Eastwell said that with recent good news on the increases in mortgage applications in the last quarter, there could finally be some growth in this sector. He pointed out that the Chancellor also signalled a wider adoption of Lord Heseltine's regionalisation plans to devolve spending away from central government and into enterprise zones.
'This too could be helpful in energising construction where times continue to be really hard beyond the London orbit,' he concluded.
