CTI Blog - Missed opportunities in the Summer Budget
This blog post is by David Hopkins, Executive Director at Wood for Good.
There were some very clever gimmicks within the Budget announcement. However, four months on from the Chancellor’s pre-election budget, it’s disappointing to see key issues surrounding manufacturing, housebuilding and climate change omitted once again.
Not only do these both represent significant challenges for the UK, but they are all key drivers for economic growth.
The UK timber industry is a vital £9 billion low-carbon manufacturing sector that is key to achieving cheaper, quicker, and more sustainable delivery of housing. Recent reports show that yearly output levels of new homes would more than double, and exceed annual housebuilding targets, if off-site methods were used.
The UK needs a new era of sustainable construction with wood at its heart to boost our economy and reduce our emissions. The budget has missed an opportunity to help drive this forward.