Published on 20 Oct 2010 • England, Wales |
"The property and construction sector will certainly feel its share of the general pain, and when this sector hurts, the whole economy hurts more."
"The boost for more apprenticeships does offer some real hope for those seeking to learn a skilled trade. However, employers in the construction sector will want to be convinced the economy is strong enough to take on new trainees."
"It would be all too easy to lament the fairly draconian cuts announced today in capital spend. But they were not unexpected and there seems to be some £3.5 billion extra for construction over the next four years than announced in the emergency budget."
"Social housing is the worry but investment in schools, carbon reduction and transport infrastructure plus [the] Green Investment Bank are positives."
"Cuts like [a 60% reduction in spending on the construction and refurbishment of schools] risk endangering the hugely important construction sector – every £1 spent by the Government on building projects generates around £3 for the wider economy. Cutting construction spending will have serious negative impacts including long term unemployment, loss of skills and outdated infrastructure preventing economic growth."
"We knew this was going to be a difficult review as far as construction was concerned. However, the Chancellor has acknowledged the important role that capital spending on construction can play in helping to provide for a private sector-led economic recovery. In particular maintaining transport investment at £30 billion over the next four years will sustain employment and help encourage private sector investment."
"[My department] is playing its part in tackling the deficit. Like the rest of the public sector we have taken some tough decisions, but we remain on course to deliver on our promise to be the greenest government ever. We will help create green jobs and green growth – and secure the low carbon investment we need to keep the lights on."
"The £1 billion for the Green Investment Bank, delayed until 2013/14 is disappointing. This is not as much as was hoped for. But the devil is in the detail. The Bank needs to be able to leverage the necessary private sector finance to meet both climate change targets and boost job creation in the construction sector. The Bank could be a major vehicle for getting private sector finance into the 'Green Deal' for energy efficient homes and buildings."
"The priority is now for providers to be innovative in financing the building of new homes and providing support services that help people adversely affected by spending cuts."
"The housing industry has been preparing itself for the worst for some time, so while the cuts outlined today are not welcome, nor are they a surprise. Cuts to the social housing budget do not inevitably have to cause a cataclysmic decline in the number of affordable homes built each year. There is now an opportunity for the private sector to step in and provide suitable housing where it is most needed."
"The fact that the housing budget is being cut by 60% is deeply depressing – and shows that providing affordable housing is no longer a government priority. Cuts on this scale will come as a devastating blow to the millions of low income families currently stuck on housing waiting lists.
We do however welcome the Government’s decision to give social housing providers greater flexibility as to how they deliver their services."
"Today is the day when Britain steps back from the brink ... It is a hard road but it leads to a better future."
"The property and construction sector will certainly feel its share of the general pain, and when this sector hurts, the whole economy hurts more."