The UK Community Renewal Fund will provide £220 million additional funding to help places across the UK prepare for the introduction of the UK Shared Prosperity Fund.
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A new £12bn national infrastructure bank was announced by chancellor Rishi Sunak in a Budget billed as being pro-business but offering little for public services.
Mr Sunak announced a series of measures to help the national economy bounce back, including £1bn for town deals, and the locations of eight freeports.
He also announced a further business rates holiday, for which councils will be compensated.
And there was extra support for towns, with £1bn for 45 new town deals, and the National Infrastructure Fund being asked to produce a report on how infrastructure can best support economic prosperity and quality of life in towns, focusing on transport and digital infrastructure in particular.
By Jordan Marshall2021-03-03T19:32:00+00:00
Take a look at some of the key policy announcements for construction
A national infrastructure bank, ongoing covid-19 support and a longer than expected stamp duty holiday extension were all among the headlines from today’s budget.
Speaking in the House of Commons this afternoon chancellor Rishi Sunak made several announcements that are sure to impact construction.
Here are some of the key measures that will affect architects, their collaborators and clients.
Rishi Sunak made several policy announcements that will be significant for construction
Sunak confirmed the furlough scheme will be extended until the end of September with no changes to the terms. Employees will continue to receive 80% of their salary for hours not worked until the scheme ends. Employers will be asked to contribute 10% of this amount from July and 20% from August. Sunak said the furlough extension was to “accommodate even the most cautious view about