New London Architecture

The plan for Jobs – are we missing the moment, could a greater return on investment be the reward?

Thursday 16 July 2020

Craig Beresford

Craig Beresford

COO Property
Waterman Group

Chancellor Rishi Sunak’s – A Plan for Jobs 2020 speech was aired in the House of Commons on 8th July.

When Boris Johnson led the Conservatives to election victory in December everything appeared to be going his way. Brexit was in progress; the country had backed him, and he promised great opportunity ahead.

On 14th December Boris visited Sedgefield and in his own words he thanked the voters in traditional Labour strongholds for “breaking the habits of a lifetime”, to vote the Conservatives into power and he pledged to repay their trust.

At that time, of course, no-one could have anticipated the dire impact of Coronavirus Pandemic that followed. It has been fascinating to see the government has a reaction and the bold approach to financing a way through this. 

Rishi Sunak has now set out a three-point plan for jobs.
  • Phase 1 - Job protection which is already in place, involving the development of the Furlough scheme.
  • Phase 2 -  jobs and job creation.
  • And Phase 3 - rebuilding (the economy).

Phase 2 proposes investment in Infrastructure - roads, schools, hospitals and high streets creating jobs throughout the country. £93bn is available to support and fund these projects.

Mr Sunak talks about creating green jobs through funding to homeowners and landlords to improve the energy efficiency of an estimated 650,000 homes as well as to public sector buildings. £1bn being available in a voucher-based grant scheme.

The win being a reduction in energy consumption, running cost savings for owners, plus the creation of local jobs to undertake the improvement work.

I feel this is a low return for such investment and wonder if the government is missing a greater opportunity.

According to the government BRIEFING PAPER Number 01432, 16 December 2019, Construction industry: statistics and policy By Chris Rhodes, there were 2.4m jobs in construction in 2019 and 35% of the construction market was in new housing orders. So pro-rata that implies 840,000 jobs in new housing.

Continuing in his speech, the Chancellor recognises the major opportunity for job creation that comes from house building. He says this supports some 750,000 jobs. This seems to just be the number of people involved in the actual construction of homes on an annual basis. The construction industry across all sectors, not just in housebuilding, procures materials and components from a global supply chain and I wonder how many more jobs could be created in the UK if the government invested in the manufacturing industries in the UK.

The investment in “greening “ existing houses is, in my opinion, missing out on the potential return to be gained from creating many more jobs in this country through a homegrown green supply chain for all construction. We have seen manufacturers in the UK pivot their capability through the pandemic. Companies that had never made Perspex screens or hospital gowns have transformed through necessity.  We can make anything as well as anyone else around the world.

The government has tasked UK Construction to achieve net-zero carbon by 2050. We have creative manufacturers and we have a green energy grid, so with investment in British industry we can achieve a greater return on investment if we manufacture more on our own soil.

Jobs can be created, green energy can be utilised driving us closer to net-zero carbon, and people can feel proud to be employed in a 21st Century industry that can “Build, Build, Build”.

Not only will this be a great economic result it would also enable Boris to stand up and say he truly delivered on his promise to repay the voters in the industrial North and Midlands for their support.


Craig Beresford

Craig Beresford

COO Property
Waterman Group


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