Liz Truss has been announced as the next Prime Minister, taking office on Tuesday 6th September.
But what does this mean for the construction? Last month, we reported the policies that the two last leadership candidates, Truss and Rishi Sunak, had.
Some of the key policies for Truss include reviving the Northern Powerhouse plans “in full” and suspending green levies.
Alongside our new PM will be Kwasi Kwarteng, the new Chancellor of the Exchequer. This will be a key role in the implementation of support for energy bills, which will affect all industries across the country.
Many within the industry have responded to this news, saying that clarity from Liz Truss’ construction policies is much needed.
Stephen Marcos Jones, from the Association of Consultancy and Engineering, said: “Investment in our national infrastructure, and the construction industry more widely, is crucial to weathering any potential economic storm. It will ensure we maintain a long-term view on the economy and invest in a sector which can provide jobs and growth.”
The construction industry has seen growth month by month during 2022, so maintaining this trend will be crucial during upcoming uncertainties.
Truss will also need to make sure the educational system has clear routes into careers in construction, as The Construction Industry Training Board have estimated that a quarter of a million more construction workers will be needed by 2026.
Addressing the climate crisis will also be vital, and we hope to see a continuation of a green transition in the built environment. Truss recently said that she would maintain the net zero by 2050 aim, which was called for in the Paris Agreement.
As we navigate a new leadership, we will be updating our website and social media with more news about what the future holds for the construction industry.