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"The budget contained quite a lot for construction. True, it was hardly a green budget but the energy measures in support for two new carbon capture projects, removal of the ceramics industry from the climate change levy, support for shale reserve development and the recent announcement of the first new reactor for decades will lead to welcome construction gains." says Andrew Eastwell, CEO of BSRIA.
He continues: "With so very little to give away, the Chancellor has chosen to use what spare money there is protect the reduced 0.6% growth now expected by the OBR in 2013/14. Housing gets significant attention with welcome boosts for additional buyer support in shared equity schemes and interest free deposit loans on new houses. With recent good news on the increases in mortgage applications last quarter we may at last see some growth in this sector. Signalled too is a wider adoption of Lord Heseltine's regionalisation plans to devolve spending away from central government and into enterprise zones. This too could be helpful in energising construction where times continue to be really hard beyond the London orbit."
No doubt the headlines will be all about the removal of a penny from the price of beer, not unwelcome, but I bet he gets it back with the extra pint consumed!
Stress-free compliance with Building Regulations, including airtightness, sound insultation and ventilation