Autumn Statement to be delivered on 23 November

The Chancellor of the Exchequer, Philip Hammond, will give his first Autumn Statement to Parliament on 23 November 2016.

Mr Hammond told the Lords committee yesterday: “The Autumn Statement will set out the government’s economic and fiscal plans based on the latest forecasts from the Office for Budget Responsibility.

“In the run-up to the Autumn Statement I will be engaging with Britain’s business leaders and employee representatives through a series of industry round tables, meetings and visits.”

The construction industry will be waiting eagerly to see if the government will renew its commitment to heavy infrastructure investment seen under the watch of former Chancellor George Osborne.

Prime Minister Theresa May had pledged to make infrastructure spending a key policy but delays on Hinkley Point and airport expansions mean the construction industry will be watching very carefully on the 23rd November.

Peter Vinden, Managing Director of The Vinden Partnership – a leading multi-disciplinary consultant company to the built environment told UK Construction Online that the construction industry is crying out for the government to flesh out its plans for the future.

He said: “The uncertainty following Brexit still clouds the construction industry. The sector appears to be stabilising but we can’t expect to see robust growth in output if we continue in a rudderless fashion.

“The industry will be watching very closely to see the level of commitment the government is willing give to infrastructure spending. We need to see a clear lead taken and fully formed strategy outlined.

“Any kind of hesitancy will filter through and affect every aspect of the construction industry. The Autumn Statement needs to be exactly that – a statement that it’s business as usual and the country has a vibrant future in a post-Brexit world.”

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