Representatives from the fenestration sector and wider construction industry have responded, in the main optimistically, to last week’s Autumn Statement.
According to the Federation of Master Builders (FMB), doubling capital investment on house building and relaxing the timeline for deficit reduction is the right way to boost economic growth.
Sarah McMonagle, director of external affairs at the FMB, said: “The Chancellor’s commitment to double annual capital spending on housing by 2020 demonstrates that he understands that house building and economic growth are intrinsically linked. For every £1 invested in construction, £2.84 is generated in the wider economy and therefore the best way to protect ourselves from an economic wobble as we leave the EU is to invest in our built environment. For that reason, the £1.4 billion announced for 40,000 affordable homes is welcome, as is the £1.3 billion for roads – the latter will help improve the UK’s infrastructure and make our economy more competitive.”
Figures in the fenestration industry to comment on the Autumn Statement include Ben Brocklesby, sales and marketing director at aluminium bi-folding door and window manufacturer, Origin, who described it as ‘a glass half full announcement’.
Ben said: “Philip Hammond’s Autumn Statement had no real surprises for us and included everything that we expected. Overall, it was a glass half full announcement, and those naysayers must remember that it could have been worse.
“We are thrilled that the government is going to provide funding to help deliver 100,000 new homes in high demand areas, and 40,000 extra affordable homes. This will give a major boost to our trade partners, especially those with ambition to grow locally. We would have hoped for a small caveat in the Statement that specified the work must done by UK businesses, but you can’t win them all.
“It was also pleasing to hear support for UK businesses that export overseas, although we would have liked to have seen a little more. This support will allow us to move further a-field and pitch for bigger contracts that previously seemed unattainable.
“Although there was no direct mention of manufacturing in the Statement, which might be due to the uncertainty of Brexit still lingering over us, there was still a glimmer of confidence throughout. UK businesses might have hoped for the releasing of tax, allowing us to reinvest in ourselves, but if companies continue to spend I am sure we will start to see some growth.
“For Origin, it continues to be business as usual. We have always relied on our product quality and the unbeatable service we provide, as well as unrivalled lead times on our systems, and this is never going to change.”
Elsewhere, Eurocell was left feeling ‘cautiously optimistic’ following the statement, with Chris Coxon, head of marketing, stating: “The exciting bit, for us, was news of the creation of industrial strategy challenge fund – loosely based on the US’s DARPA programme. The areas which the fund will focus on will be decided in due course, yet let’s hope it doesn’t get too hung up on ‘funky’ tech, and encompasses more prosaic sectors such as ours.
“And there’s something for innovators in the tax regime too. As the statement said: ‘To ensure the UK tax system is strongly pro-innovation, the government will review the tax environment for R&D to look at ways to build on the introduction of the ‘above the line’ R&D tax credit to make the UK an even more competitive place to do R&D’.
“Depending on how both these initiatives play out, it sounds like good news at the moment and the right words and actions from government provide some reassurance that our investment in innovation today will bear fruit tomorrow.”
Nigel Rees, GGF chief executive, took a more pessimistic view, noting the absence of any notable energy efficiency measures. He said: “Yet again the Autumn Statement announcement offers little to the construction sector and in particular, the glass and glazing industry.
“Although it was positive to hear the plans for new housing, it is a great shame that the government has failed to address the main problem regarding energy efficiency – and that is improving the existing housing stock. It seems futile to build new houses and generate more energy, whilst energy continues to be wasted through inefficient homes.
“We now must wait in anticipation for the government commissioned Bonfield Report ‘Each Home Counts’. Will it be the panacea for making existing homes more energy efficient? Or will it be another Green Deal? We wait in hope that it will consist of some consumer incentives and solutions to improve the UK’s energy efficiency.”
