06 April 2016 #Construction
There was little of direct interest in the 2016 Budget for construction practitioners, but the following themes were developed by the Chancellor and will have implications for those involved in the construction industry:
This is an idea targeted at funding new apprenticeships with a levy on large UK employers. The levy will be introduced in April 2017, at a rate of 0.5% of an employer’s wage bill.
Building Information Modelling
The government will develop BIM level 3 for the construction industry, the 2016 Budget reported.
The 2016 Budget announced the launch of the Starter Homes Land Fund prospectus. Local Authorities will be able to access £1.2 billion of funding to facilitate the use of brownfield sites for new housing, in order to deliver at least 30,000 starter homes.
A number of major infrastructure initiatives were confirmed, including HS3 between Leeds and Manchester; an investment of £80 million to develop Crossrail 2; the launch of a second roads investment strategy; and an additional £700 million by 2021 to spend on flood defences.