Publishing pipeline of work will provide certainty for firms, Mark Reynolds adds
Publishing the UK鈥檚 National Infrastructure and Construction Pipeline would be a greater 鈥渟timulus鈥 to the industry than tax cuts, according to Construction Leadership Council co-chair Mark Reynolds.
The Mace chairman and chief executive said he would be 鈥減utting pressure鈥 on Jeremy Hunt about the issue ahead of this Wednesday鈥檚 Autumn Statement and added: 鈥淭here are many ways [other than tax cuts]. The National Infrastructure and Construction Pipeline (NCIP) provides certainty on what is required and will be spent by the government over the next 10 years,鈥 he said.
The NICP is a pipeline of projects set to be delivered as part of the National Infrastructure Strategy.
Reynolds鈥 remarks follow rumours that the Infrastructure and Projects Authority鈥檚 latest pipeline will soon be published in full.
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The publication of last year鈥檚 pipeline was delayed by the Treasury amid economic uncertainty caused by then prime minister Liz Truss鈥檚 mini-Budget - the first year the IPA document wasn鈥檛 released since it started in 2010.
Speaking to the Today Programme, Reynolds also advocated for tax incentives on build-to-rent for affordable housing, VAT relief on greening existing homes and tax relief on expenses for construction firms.
鈥淲hat we need is both immediate growth for the short term and long term thinking. What we鈥檙e hoping for is a bit of stability, to move the industry forward,鈥 Reynolds said.
鈥淲e鈥檝e heard of measures like 鈥榝ull expensing鈥 being spoken about, but we really don鈥檛 think manufacturing as a sector benefits from that.
鈥淚 think there are other benefits and stimulus that we would be looking for such as [Research & Development] tax credits being reviewed, to continue as they are at the present time.鈥
鈥淐ertainly a number of colleagues and supply chain members I work with are really keen on that. They鈥檝e invited me to meet personally through the Construction Leadership Council.鈥
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