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Government attempts to kick-start building industry

Author : Suzanne Gill

I have just received news of the Governments recent attempts to kick-start the UK’s troubled building industry. Official figures have shown that, during 2009, the UK construction industry experienced its largest fall in output since 1974, dropping by 11%. The Construction Products Association (CPA) has also stated that it expects the industry to decrease by a further 3% this year.

Government attempts to kick-start building industry

The Governments latest announcement may therefore offer a ray of hope to those relying on the building industry for their livelihood. It has pledged to inject more cash into the housebuilding industry in a bid to restart stalled affordable housing projects.

Housing Minister, John Healey, recently stated that £83 million will be made available to help get stalled developments moving again. A condition has been attached to the funding… requiring beneficiaries to provide opportunities for local workers and apprenticeships. Indeed, some developers have already received cash, and around 25% of these developers have stated that they will have workers back on site within a month. The rest are required to have their projectd up and running again within a year.

The West Midlands area is believed to have been one of the biggest beneficiaries of the project, with 16 developments receiving financing, compared to just two in the north-east.

In a further boost, the Government has also just announced plans for energy-efficient home improvement loans, a move that is expected to create up to 65,000 jobs in the green homes sector.

I am interested to find out your views on the Governments latest plans…will they be of any benefit to you?. Click here to E-mail me

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