CPA: Boost for Infrastructure Welcomed by Construction Industry
The Construction Products Association welcomed the Chancellor’s announcement confirming an increase for investment in infrastructure projects in today’s Autumn Statement, although overall capital spending continues to fall.
Responding to this announcement, the Association’s Chief Executive, Michael Ankers said: ‘Improving the quality of our infrastructure has a key part to play in raising business competitiveness and stimulating economic growth and it is encouraging that the government has recognised this. Schemes like the improvement to the A14 trunk road will improve access to key ports from our manufacturing heartland and help our export drive. At a time when construction output is falling and forecast to continue to do so for the next couple of years, the additional investment on infrastructure will help create new jobs and generate as much as £75 billion of economic activity across the economy as a whole.
‘Today’s announcements, however, do little to reverse the sharp fall in government capital spending – from £62bn in 2010/11 to £45bn in 2013/14. The most important step for the long term is to underpin investment on infrastructure with private finance and so the announcement that an additional £20bn of funding from pension funds and capital markets is particularly welcome. Funding of this kind will help create a long term sustainable framework for investment in our infrastructure which is set apart from the vagaries of government spending cycles.’
Turning to other measures in the Chancellor’s statement, Ankers said; ‘We welcome the initial measures that the Chancellor has announced to help electro-intensive industries. Government has recognised that it has to balance retaining key industries in the UK with the measures it needs to take to ensure long term security of energy supply. Companies in our sector will benefit from the additional rebate on the Climate Change Levy, as well as measures to reduce the cost of the EUETS and the Carbon Price Floor. But these are only the first steps and we want to see help for companies that use gas as their major source of energy. In particular they would benefit from enhanced capital allowances for investments that improve energy efficiency and the treatment of process emissions in a similar way to other EU Member States.’
NOTE TO EDITORS:
The Construction Products Association represents the UK’s manufacturers and suppliers of construction products, components and fittings. The Association acts as the voice of the construction products sector, representing the industry-wide view of its members. The sector has an annual turnover of £50 billion and accounts for 44% of total construction output.
FOR FURTHER INFORMATION CONTACT:
Simon Storer. Communications and External Affairs Director
Construction Products Association
Tel : 020 7323 3770
Fax : 020 7323 0307
Mobile : 07702 862 257
E-mail : simon.storer@constructionproducts.org.uk
Michael Ankers Chief Executive
Construction Products Association
Tel : 020 7323 3770
Fax : 020 7323 0307
E-mail: michael.ankers@constructionproducts.org.uk
Kind Regards,
Nicola
Nicola Smith
External Affairs Executive
Construction Products Association
26 Store Street
London WC1E 7BT
Tel: 020 7323 3770
Fax: 020 7323 0307
nicola.smith@constructionproducts.org.uk
www.constructionproducts.org.uk
Registered Office as above
Company Number 386 1752
Registered in England
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