2023 Autumn Statement in brief with reactions - Revision history

Editor at 17:54, 25 November 2023

2023-11-25T17:54:50Z

← Older revision		Revision as of 17:54, 25 November 2023
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	* Chancellor's 2022 Autumn statement industry response.		* Chancellor's 2022 Autumn statement industry response.
	* CIOB articles.		* CIOB articles.
−	* CIOB at the party conferences 2022.
	* ECA articles.		* ECA articles.
	* Government publishes UK infrastructure strategy.		* Government publishes UK infrastructure strategy.
		+	* IHBC articles.
	* Industry responds as Rishi Sunak becomes new PM.		* Industry responds as Rishi Sunak becomes new PM.
	* No net zero without skilled workforce.		* No net zero without skilled workforce.

Editor at 17:53, 25 November 2023

2023-11-25T17:53:34Z

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	This section was issued via Press Release as "ECA applauds Chancellor’s payment reforms for SMEs " dated November 24, 2023.		This section was issued via Press Release as "ECA applauds Chancellor’s payment reforms for SMEs " dated November 24, 2023.

−	== ~~CPRE~~ The ~~Countryside~~ charity ==	+	== Association for Project Management APM ==
		+
		+	In response to the Chancellor Jeremy Hunt’s Autumn Statement this week, Andrew Baldwin, Head of Policy and Public Affairs at APM said:
		+
		+	“There are reasons to be optimistic about some of the measures announced. We welcome the Chancellor’s nod to stability through plans to support investment, boost skills and improve efficiency in many of the key areas where projects take place, such as technology, house-building and advanced manufacturing.”
		+
		+	On the Chancellor’s announcement about planning reforms and infrastructure projects:
		+
		+	“Importantly, ensuring successful delivery needs to remain a focus in light of planning reforms announced by the Chancellor. We acknowledge that bureaucracy around infrastructure projects can be a source of frustration for those tasked with delivering these projects. Whilst measures announced in the Autumn Statement to speed up this process have the potential to quicken project delivery, it is important to remember that projects must be delivered with a sustainable and sustained approach in mind.
		+
		+	“While speed of completion is always a consideration, this must not be at the expense of successful delivery. Infrastructure projects must not become ‘hurried’, as this could jeopardise its ability to deliver intended benefits over the long-term. Meanwhile, the focus on delivering so many new projects is a positive step although the proximity to an Election may impact on the ability to deliver all of them in such a short period. It must be remembered however that delivering project success means investing in people.
		+
		+	“It is concerning to hear the Government is focused on reducing the civil service at a time when its own centre for project expertise – the Infrastructure and Projects Authority (IPA) – is supporting more government projects than ever before. We believe the IPA should be given more resource, not less. We therefore call on the Government to ensure the IPA has the resources it requires to deliver projects successfully, so that projects succeed for the benefit of society.”
		+
		+	On the announcements about investing in the skills gap, particularly in the engineering sector:
		+
		+	“Investment in skills elsewhere must also be prioritised. Our research shows that the skills gap is a major concern for people delivering projects in the engineering sector – where 15% of project professionals say the skills gap is getting worse – and in the manufacturing sector, where that figure rises to 34%. Apprenticeship programmes will be vital to help boost the skills gap in these sectors. The announcement of £50million of funding over the next two years to pilot ways to increase the number of apprentices in engineering and other key growth sectors is welcome. We hope this will contribute to increased uptake of project management apprenticeships in particular."
		+
		+	On AI and future growth:
		+
		+	“The Chancellor is also correct to acknowledge the importance of AI in his autumn statement. The project profession has been an early adopter of AI and machine learning, and many of APM’s Corporate Partners are either applying AI already, or preparing to do so. Furthermore, our research has found that AI has the potential to increase project success and mitigate failure. Given the importance of projects in this Budget and the Government’s wider economic plan, we invite the Government to consult with APM and our Corporate Partners on how to make the best use of the announced £500 million of funding for innovation centres.”
		+
		+	-----
		+	This section appears on the APM news and blog site as "[https://www.apm.org.uk/news/apm-responds-to-autumn-statement-2023/ APM responds to Autumn Statement 2023]" dated November 24, 2023.
		+
		+	== The countryside charity CPRE ==

	Commenting on the statement, Roger Mortlock, CEO at CPRE, said:		Commenting on the statement, Roger Mortlock, CEO at CPRE, said:

Editor at 13:07, 24 November 2023

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	'Greater efficiencies in the planning process should be better for all involved. However, these should not be allowed to lessen the protection of the historic environment, and must include proposals to enable local authorities to provide sufficient numbers of staff qualified in planning, conservation and urban design.'		'Greater efficiencies in the planning process should be better for all involved. However, these should not be allowed to lessen the protection of the historic environment, and must include proposals to enable local authorities to provide sufficient numbers of staff qualified in planning, conservation and urban design.'
		+
		+	-----
		+	This section was issued via direct comment from IHBC to Designing Buildings editorial tean on November 23, 2023.
		+
		+	== Electrical Contractors Association ECA ==
		+
		+	Rob Driscoll, Chair of the Cabinet Office SME Advisory Payment Group and Director of Legal & Business for ECA, said:
		+
		+	“This is a huge achievement for ECA in levelling up the commercial environment in which our Members operate. It clearly demonstrates liquidity of supply chains and cash-flow are political priorities. Over the past 24 months, ECA has worked tirelessly with its Members, payment software providers, industry press, the Construction Leadership Council, the Department for Business and Trade, the Cabinet Office, and an alliance of a dozen trade bodies to underscore the urgent need for reform and elevate SME payment terms within the political agenda.”
		+
		+	ECA has also welcomed Kemi Badenoch’s commitment on behalf of Government to reform payment reporting. This is designed to eradicate loopholes and maintain the credibility of the government's open-source credit information reports on large firm payment performance.
		+
		+	ECA was also successful in influencing the new Procurement Act, which gained Royal Assent last month. Following several meetings with Ministers, peers and MPs, it introduces 30-day payment as a statutory implied term into public sector contracts at tiers 1, 2 and 3 of the supply chain. It ensures that the public sector reports on payment terms in the same way as the private sector. ECA, which represents nearly 3,000 electrical and engineering services businesses in England, Wales and Northern Ireland, has been a steadfast advocate for improving payment conditions for decades.
		+
		+	-----
		+	This section was issued via Press Release as "ECA applauds Chancellor’s payment reforms for SMEs " dated November 24, 2023.

	== CPRE The Countryside charity ==		== CPRE The Countryside charity ==

Editor: Protected "2023 Autumn Statement in brief with reactions" ([edit=sysop] (expires 06:51, 1 December 2023 (UTC)) [move=sysop] (expires 06:51, 1 December 2023 (UTC)))

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Protected "2023 Autumn Statement in brief with reactions" ([edit=sysop] (expires 06:51, 1 December 2023 (UTC)) [move=sysop] (expires 06:51, 1 December 2023 (UTC)))

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Revision as of 06:51, 24 November 2023

Designing Buildings at 06:46, 24 November 2023

2023-11-24T06:46:41Z

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	= Five priorities outlined =		= Five priorities outlined =

−	The ~~statement reiterates~~ three economic priorities set out in January; to halve inflation, grow the economy and reduce debt. ~~Indication~~ is that inflation has fallen and Office for Budget Responsibility (OBR) forecasts policies will help it reduce further next year. The statement talks of a responsible approach to public spending to keep debt falling, cuts taxes for working people and businesses, reform on welfare to help people into work and remove barriers to business investment.	+	The Autumn Statement reiterated three economic priorities set out in January; to halve inflation, grow the economy and reduce debt. The indication is that inflation has fallen and the Office for Budget Responsibility (OBR) forecasts policies will help it reduce further next year. The statement talks of a responsible approach to public spending to keep debt falling, cuts taxes for working people and businesses, reform welfare to help people into work and remove barriers to business investment.

−	The ~~Autumn~~ statement says; "The government is focusing on five areas: reducing debt; cutting tax and rewarding hard work; backing British business; building domestic and sustainable energy; and delivering world-class education. The Autumn Statement takes a responsible approach to public spending to keep debt falling, cuts taxes for working people and businesses, reforms welfare to help people into work and removes barriers to business investment to boost growth."	+	The statement says; "The government is focusing on five areas: reducing debt; cutting tax and rewarding hard work; backing British business; building domestic and sustainable energy; and delivering world-class education. The Autumn Statement takes a responsible approach to public spending to keep debt falling, cuts taxes for working people and businesses, reforms welfare to help people into work and removes barriers to business investment to boost growth."

	These 5 focus areas are described here in brief in the order they appear in the four main focus area chapters in the statement.		These 5 focus areas are described here in brief in the order they appear in the four main focus area chapters in the statement.
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	== Reducing debt ==		== Reducing debt ==

−	Growth forecast improved to 0.6% now 1.8% higher than pre-covid Inflation expected to fall. OBR expects key interest ~~rate~~ to stick at about 4% until 2028. Headline debt is to be ~~worth~~ 94% of GDP. gap between spending and income – is 4.5% of GDP ~~in 2023-24~~. The statement talks of tackling waste and inefficiency but ensuring public services continue to operate effectively in the face of financial and operational pressures~~. "£14.1 billion for the NHS and adult social care~~.	+	* Growth forecast improved to 0.6%, now 1.8% higher than pre-covid.
		+	* Inflation is expected to fall. OBR expects key interest rates to stick at about 4% until 2028.
		+	* Headline debt is to be 94% of GDP.
		+	* The gap between spending and income is 4.5% of GDP.
		+	* The statement talks of tackling waste and inefficiency but ensuring public services continue to operate effectively in the face of financial and operational pressures.

	== Delivering world-class education ==		== Delivering world-class education ==

−	Reaffirms the commitments made ~~at Autumn Statement~~ 2022 to make available up to £14.1 billion for the NHS and adult social care and provide an additional £2 billion for schools in both 2023-24 and 2024-25. Total departmental spending will be £85 billion higher in real terms by 2028-29 than at the start of this Parliament (2019-20).	+	* Reaffirms the commitments made in 2022 to make available up to £14.1 billion for the NHS and adult social care and provide an additional £2 billion for schools in both 2023-24 and 2024-25.
		+	* Total departmental spending will be £85 billion higher in real terms by 2028-29 than at the start of this Parliament (2019-20).

	== Cutting tax and rewarding hard work ==		== Cutting tax and rewarding hard work ==

−	NI contributions from employees will be cut from 12% to 10%. Reduction for self-employed by the main rate of Class 4 self-employed NICs from 9% to 8%, Class 2 self-employed NICs abolished. ~~National~~ living wage to will increase to £11.44 and extended to 21-year-olds, and state pension also increased by 8.5%. The Back to Work Plan will increase benefits by 6.7%, but require mandatory work experience after ~~18months~~. Local housing allowance to increase by £800 for some households.	+	* NI contributions from employees will be cut from 12% to 10%. Reduction for self-employed by the main rate of Class 4 self-employed NICs from 9% to 8%, with Class 2 self-employed NICs abolished.
		+	* The national living wage will increase to £11.44 and will be extended to 21 year-olds, and state pension was also increased by 8.5%.
		+	* The Back to Work Plan will increase benefits by 6.7%, but require mandatory work experience after 18 months.
		+	* Local housing allowance to increase by £800 for some households.

	== Backing British business ==		== Backing British business ==

−	The full expensing scheme, allowing businesses to offset investment on new IT equipment and factory machinery against tax over 3 years will become permanent. ~~To removing~~ barriers to investment in critical infrastructure, by reforming the planning system to speed up approvals, setting out a plan to reduce time for new projects to connect to the grid, to drive new commercial developments that will enhance ~~our~~ energy security and help drive the transition to net zero. Business rates support package worth £4.3 billion over five years to support small businesses and the high street.~~<br />~~	+	* The full expensing scheme, allowing businesses to offset investment on new IT equipment and factory machinery against tax over 3 years will become permanent.
−	Small business multiplier to be frozen and Retail, Hospitality and Leisure (RHL) relief ~~will be~~ extended.	+	* Removing barriers to investment in critical infrastructure, by reforming the planning system to speed up approvals, setting out a plan to reduce time for new projects to connect to the grid, to drive new commercial developments that will enhance energy security and help drive the transition to net zero.
		+	* Business rates support package worth £4.3 billion over five years to support small businesses and the high street.
		+	* Small business multiplier to be frozen and Retail, Hospitality and Leisure (RHL) relief extended.

	== Building domestic and sustainable energy ==		== Building domestic and sustainable energy ==

−	Measures ~~added~~ to help increase business investment by about 1% of GDP, targeting support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy. New “investment ~~zone”~~ in Wrexham, ~~Wales, in an attempt to increase employment and three others in~~ Greater Manchester, and the West and east Midlands. Explore options for sale of government’s stake in NatWest, through a “retail share offer”.	+	* Measures to help increase business investment by about 1% of GDP, targeting support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy.
		+	* New “investment zones” in Wrexham, Greater Manchester, and the West and east Midlands.
		+	* Explore options for sale of government’s stake in NatWest, through a “retail share offer”.

	-----		-----
−	to read the 2023 Autumn Statement in full visit [https://assets.publishing.service.gov.uk/media/655dbc3d544aea000dfb322d/E02982473_Autumn_Statement_Nov_23_BOOK_PRINT.pdf HM Gov here]	+	To read the 2023 Autumn Statement in full visit [https://assets.publishing.service.gov.uk/media/655dbc3d544aea000dfb322d/E02982473_Autumn_Statement_Nov_23_BOOK_PRINT.pdf HM Gov here]

	= Governments and Industry related bodies react =		= Governments and Industry related bodies react =

Editor at 20:56, 23 November 2023

2023-11-23T20:56:11Z

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	== Reducing debt ==		== Reducing debt ==

−	Growth forecast improved to 0.6% now 1.8% higher ~~then~~ pre-covid Inflation expected to fall. OBR expects key interest rate to stick at about 4% until 2028. Headline debt is to be worth 94% of GDP. gap between spending and income – is 4.5% of GDP in 2023-24. The statement talks of tackling waste and inefficiency but ensuring public services continue to operate effectively in the face of financial and operational pressures. "£14.1 billion for the NHS and adult social care.	+	Growth forecast improved to 0.6% now 1.8% higher than pre-covid Inflation expected to fall. OBR expects key interest rate to stick at about 4% until 2028. Headline debt is to be worth 94% of GDP. gap between spending and income – is 4.5% of GDP in 2023-24. The statement talks of tackling waste and inefficiency but ensuring public services continue to operate effectively in the face of financial and operational pressures. "£14.1 billion for the NHS and adult social care.

	== Delivering world-class education ==		== Delivering world-class education ==
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	== Building domestic and sustainable energy ==		== Building domestic and sustainable energy ==

−	Measures added to help increase business investment by about 1% of GDP, ~~targetting~~ support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy. New “investment zone” in Wrexham, Wales, in an attempt to increase employment and three others in Greater Manchester, and the West and east Midlands. Explore options for sale of government’s stake in NatWest, through a “retail share offer”.	+	Measures added to help increase business investment by about 1% of GDP, targeting support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy. New “investment zone” in Wrexham, Wales, in an attempt to increase employment and three others in Greater Manchester, and the West and east Midlands. Explore options for sale of government’s stake in NatWest, through a “retail share offer”.

	-----		-----

Editor at 20:53, 23 November 2023

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−	[[File:~~CIOB Autumn statement 23 banner~~.jpg]]	+	[[File:CIOB_Autumn_statement_23_banner.jpg\|link=File:CIOB_Autumn_statement_23_banner.jpg]]

	= Five priorities outlined =		= Five priorities outlined =
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	Measures added to help increase business investment by about 1% of GDP, targetting support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy. New “investment zone” in Wrexham, Wales, in an attempt to increase employment and three others in Greater Manchester, and the West and east Midlands. Explore options for sale of government’s stake in NatWest, through a “retail share offer”.		Measures added to help increase business investment by about 1% of GDP, targetting support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy. New “investment zone” in Wrexham, Wales, in an attempt to increase employment and three others in Greater Manchester, and the West and east Midlands. Explore options for sale of government’s stake in NatWest, through a “retail share offer”.
		+
		+	-----
		+	to read the 2023 Autumn Statement in full visit [https://assets.publishing.service.gov.uk/media/655dbc3d544aea000dfb322d/E02982473_Autumn_Statement_Nov_23_BOOK_PRINT.pdf HM Gov here]

	= Governments and Industry related bodies react =		= Governments and Industry related bodies react =

Editor: moved 2023 Autumn Statement summary and industry response to 2023 Autumn Statement in brief with reactions

2023-11-23T20:43:36Z

moved 2023 Autumn Statement summary and industry response to 2023 Autumn Statement in brief with reactions

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Revision as of 20:43, 23 November 2023

Editor at 20:42, 23 November 2023

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		+	[[File:CIOB Autumn statement 23 banner.jpg]]
		+
	= Five priorities outlined =		= Five priorities outlined =

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	-----		-----
−	This section appears on the CIOB news and blog site as "[https://www.ciob.org/news/ciob-comments-on-the-chancellors-autumn-budget CIOB comments on the Chancellor's Autumn Budget]" dated November 22, 2023.	+	This section and the top image appears on the CIOB news and blog site as "[https://www.ciob.org/news/ciob-comments-on-the-chancellors-autumn-budget CIOB comments on the Chancellor's Autumn Budget]" dated November 22, 2023.

−	== The Institute of Historic ~~Buildings and~~ Conservation IHBC ==	+	== The Institute of Historic Building Conservation IHBC ==

	David McDonald IHBC Chair commented:		David McDonald IHBC Chair commented:

Editor at 19:40, 23 November 2023

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	The Autumn statement says; "The government is focusing on five areas: reducing debt; cutting tax and rewarding hard work; backing British business; building domestic and sustainable energy; and delivering world-class education. The Autumn Statement takes a responsible approach to public spending to keep debt falling, cuts taxes for working people and businesses, reforms welfare to help people into work and removes barriers to business investment to boost growth."		The Autumn statement says; "The government is focusing on five areas: reducing debt; cutting tax and rewarding hard work; backing British business; building domestic and sustainable energy; and delivering world-class education. The Autumn Statement takes a responsible approach to public spending to keep debt falling, cuts taxes for working people and businesses, reforms welfare to help people into work and removes barriers to business investment to boost growth."

−	These 5 focus areas are described here in brief in the order they appear in the four main focus ~~areas~~ in the statement.	+	These 5 focus areas are described here in brief in the order they appear in the four main focus area chapters in the statement.

	== Reducing debt ==		== Reducing debt ==
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	Measures added to help increase business investment by about 1% of GDP, targetting support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy. New “investment zone” in Wrexham, Wales, in an attempt to increase employment and three others in Greater Manchester, and the West and east Midlands. Explore options for sale of government’s stake in NatWest, through a “retail share offer”.		Measures added to help increase business investment by about 1% of GDP, targetting support for digital technology, green industries, life sciences, advanced manufacturing and creative industries, including £4.5 billion to unlock investment in strategic manufacturing sectors – auto, aerospace, life sciences and clean energy. New “investment zone” in Wrexham, Wales, in an attempt to increase employment and three others in Greater Manchester, and the West and east Midlands. Explore options for sale of government’s stake in NatWest, through a “retail share offer”.

−	= Industry related bodies ~~reactions~~ =	+	= Governments and Industry related bodies react =

	== Scottish Government ==		== Scottish Government ==
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	* The autumn statement: What is it and does it effect construction ?		* The autumn statement: What is it and does it effect construction ?

−	[[Category:~~Articles_needing_more_work~~]]	+	[[Category:DCN_Commentary]] [[Category:DCN_Event]] [[Category:DCN_News]] [[Category:DCN_Policy]] [[Category:Definitions]] [[Category:News]] [[Category:Policy]] [[Category:Sustainability]] [[Category:Taxation]]