UK Government Summer Statement Response, Chancellor?s Economic Update, New British Homes
UK Summer Statement Response News
8 July 2020
UK Chancellor?s Economic Update
Construction Industry Reaction To The Chancellor?s Summer Economic Update
Commenting on the Chancellor?s statement, earlier today, regarding the UK?s economic recovery from COVID-19, Clive Docwra, Managing Director of leading property and construction consultancy McBains, said:
?The Chancellor is right: we need to instil confidence in our economy and get it moving again following the COVID-19 pandemic.
However, in the case of construction, its simply not possible to just ?turn on the taps? and “get Britain building?. There?s lead time, which, in many cases, is considerable ? with smaller developers, in particular, still struggling with supply chain blockages, staff shortages, and provisions around social distancing. As a sector that has operated on tight margins, now, for some time, the long-term outlook is not great, despite the Chancellor?s promises and upbeat tone. Many developers are hesitant about committing to new projects against a backdrop of coronavirus, and its likely the Government will need to provide ongoing support for some time to come ? or, at the very least, until an effective treatment or vaccine is found.
That being said, some of the proposals announced today ? such as the job retention bonus, the new ?kickstart? and traineeship support schemes, and the stamp duty holiday ? will...