The British government announced on Saturday a £600 million investment aimed at addressing severe construction skills shortages that threaten its ambitious plan to build 1.5 million new homes by 2029 and drive economic growth.
Finance Minister Rachel Reeves emphasized that housebuilding and the enhancement of critical infrastructure form key components of the Labour government's growth strategy. "We are determined to get Britain building again," Reeves said in an emailed statement from the Treasury, highlighting that the initiative will address long-standing issues, including an outdated planning system and the dearth of skilled construction workers.
The push for more robust training comes as the industry grapples with a growing vacancy crisis. Official figures revealed that there were 38,000 unfilled construction roles in the three months leading up to February—a situation exacerbated by the fallout from the 2016 Brexit vote and the subsequent impacts of the COVID-19 pandemic. Moreover, the Construction Products Association has warned that the sector is set to lose around 500,000 employees, or 25% of its workforce, to retirement over the next 10 to 15 years.
To tackle these challenges, the government plans to allocate £165 million to expand construction courses at colleges and £100 million to upskill new, existing, and returning workers. Additionally, the Construction Industry Training Board will contribute £32 million to fund over 40,000 industry placements annually over the next four years. Collectively, these measures are expected to train up to 60,000 bricklayers, electricians, engineers, and carpenters by 2029.
Reeves also hinted at forthcoming fiscal measures to align with the government's fiscal rules, with a spring statement expected next Wednesday that will include new economic and public finance forecasts from Britain's fiscal watchdog.
As the UK endeavors to overcome its construction skills crunch, the government’s targeted investment reflects a broader strategy to stimulate growth and ensure the country meets its critical infrastructure and housing targets.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over t...
One person has been killed and six others injured after an explosion at a petroleum storage facility at the Port of Rotterdam, prompting an investi...
The suspension of two major grain terminals in Russia’s Black Sea port of Novorossiysk could increase pressure on Kazakhstan’s agricult...
Disruption in the Strait of Hormuz has increased the strategic importance of Bab al-Mandab, raising fears that instability in both waterways could trigger a wider global energy and trade crisis.
Flights at Catania airport in Sicily will remain suspended until early Friday as ash from Mount Etna continues to disrupt air travel, following hundreds of cancellations and diversions over the past week.
Iran and the United States remain at loggerheads over efforts to agree a permanent end to the war in the Gulf, according to a senior Iranian source who said there had been no progress in talks to revive the interim deal agreed in June and define a timeframe to implement it.
Iran says the Strait of Hormuz remains under its control, rejecting U.S. President Donald Trump’s claim of “total control” over the strategic waterway and insisting it will not reopen until Washington fulfils its commitments under an interim deal.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 12th of August, covering the latest developments.
Online fast-fashion platform Shein lost a London copyright lawsuit against rival Temu on Thursday over photographs used to promote some products.
Norway’s $2.3 trillion sovereign wealth fund has revealed a 0.05 per cent stake in SpaceX worth $1.22 billion, marking its first reported holding in Elon Musk’s space company.
U.S. data analytics firm Palantir Technologies has reported a 93 per cent year-on-year jump in second-quarter revenue, even as the company faces continued criticism over its work with Israel's military and allegations linking its technology to the war in Gaza.a.
Rising trade across the Caspian Sea is strengthening Georgia’s role as a logistics hub and could help the country develop higher-value industries, according to the Asian Development Bank (ADB).
Ford raised its full-year earnings forecast after reporting stronger-than-expected second-quarter adjusted profit, as resilient demand for its vehicles and operational improvements helped offset tariff-related costs.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment