As we head closer towards the Autumn Budget on 26 November, CECA has set out its expectations for this key fiscal event to HM Treasury.
Speculation around what will and won’t happen on Budget Day has been rife at the Labour Party’s Conference over the past few days.
What’s for sure is that investment in the UK’s infrastructure networks, alongside a stable policy and regulatory environment, are integral for economic growth and raising everyday living standards.
To realise these outcomes over the long-term, CECA has recommended the following in its Budget submission:
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- That Government works with industry on the revision and development of NISTA’s Infrastructure Pipeline so that its development maintains momentum and retains practical utility for businesses throughout the value chain.
- That Government is bold in its approach to addressing the late payments challenge that continues to blight construction, including legislating for the abolition of retentions altogether.
- Procurement reform must ensure consistent adoption of the Construction Playbook and implementation of the recommendations of the independent review of construction frameworks.
- That the new Growth and Skills Levy prioritises giving employers the flexibility to invest in training that reflects real industry needs, moving beyond the rigidity of the previous Apprenticeship Levy.
- That Government establishes a dedicated programme to pilot and test new models of private finance in infrastructure, learning from past experience and embedding lessons learned.
- A comprehensive Net Zero Investment Plan is developed, that lays out in full on a sector-by-sector basis investment requirements, targets, and delivery milestones to scale up the deployment of net zero technologies, and break down market barriers to zero-carbon project delivery.
To read CECA’s submission in detail, please follow this link.