Soapbox: Boris Johnson’s New Deal - How NLA Members can access the funding

Thomas Nicolson

Senior Manager, Innovation Incentives
EY (Ernst & Young)

Soapbox: Boris Johnson’s New Deal - How NLA Members can access the funding

The prime minister, Boris Johnson, announced a swathe of new measures this week packaging the stimulus funding as a “New Deal”. The reconfiguration of the funds totalled £5bn but expected to increase significantly over the coming months.

While some initiatives were new, other announcements brought together existing government plans under a broader infrastructure banner for government spending.

New policy, unambiguous direction

Most significantly there is a clear pathway to further spending in the construction, architecture and property development which will lead to further investments and grants. The initiatives include:

- A new Infrastructure Delivery Taskforce, named ‘Project Speed’ to deliver government’s public investment projects more strategically and efficiently.

- A new Infrastructure Strategy, set to be announced in the autumn, which will set a clear direction on core economic infrastructure, including energy networks, road and rail, flood defences and waste.

- A reformed planning system with changes expected in September

EY’s policy expert, Stuart Jackson says: “The new policy announcements mean that we can expect further infrastructure spending in the future. We will be watching for grant opportunities for NLA members.”

Construction & Architecture – Grant Funding

The Sustainable Innovation Fund is something we are all likely to hear a lot about in months to come. If you are reading this and have projects that are entrenched in this concept it is worth having a conversation with EY to see what your company might be applicable for.

This tranche, worth £55m, has just four-week window (deadline end of July) to apply and applicants are notified before the end of August. Each company can apply for £175,000 of funding.

Specific themes include:

· Decarbonisation for the circular economy

· Covid-19 key challenges (spaces, transport)

· climate change and environmental sustainability

· innovation that is aimed at commercial or residential users

· innovations that work across more than one sector

· follow-on international opportunities that help the UK lead the world

Equally the BEIS has announced the Industrial Energy Efficiency and Decarbonisation Studies is a slightly more longwinded grant – deadline isn’t until October, applicants notified in January but the projects are much larger in excess of £250,000 but going into the millions.

There are also grants in Agri-tech, manufacturing, zero emission vehicles and clean energy.

Property Development – Government Investment

NLA’s members in property development will note the investment announcements which are likely to filter through public sector procurement processes included significant funds for maintenance of hospitals (£1.5bn) road (£100m), rail (£10m), schools (over £1bn), judicial system (over £200m).Funds for local projects include a £900m growth fund for England, and £96m Towns Fund were also announced. Three home building funds were also mentioned for across England, including:

- A £12bn affordable homes programme

- A £400m Brownfield Land Fund for particular regions

- A Home Building Fund to help smaller developers access finance for new housing developments

Thomas Nicolson

Senior Manager, Innovation Incentives
EY (Ernst & Young)