Spending Review 2010Chancellor George Osborne has delivered his long-awaited Comprehensive Spending Review. Check here for all the news.
News on the Spending Review from NCE magazine
Civils consultants earned £32M from central government between the beginning of May and the end of September, according to official figures released this week.
Britain’s biggest civils firms were fuming this week after being ordered in to the Cabinet Office and told to repay cash already earned and offer massive discounts on work in the pipeline as part of the government’s efficiency drive.
Design delays and problems maintaining internal air temperatures could increase the cost of the London 2012 Aquatics Centre by £11M the Olympic Delivery Authority (ODA) said this week.
Contractors this week gave a mixed response to transport secretary Philip Hammond’s decision to postpone work on a further £1bn of road schemes, including a number of managed motorways schemes.
So we’ve survived the Comprehensive Spending Review and now have the National Infrastructure Plan as a unique and positive commitment to infrastructure investment as an economic driver.
Senior civil servants this week pledged to remove planning obstacles to new major infrastructure projects by the end of the year as it published its first broad commitment to a long term infrastructure investment plan.
The government made clear its preference for rail investment over road improvements in last week’s spending review.
Latest news on the spending review
Transport minister Norman Baker has announced the money each local authority in England would be getting for transport schemes and for road maintenance.
Buildings and infrastructure costs for the London 2012 Games may go down by £29M to £7.2bn, according to official figures.
Consultation on plans to reform of the electricity market by introducing a carbon price to encourage low carbon generation is to begin next month, the government confirmed this week.
The Highways Agency’s capital budget has been slashed in half in chancellor George Osborne’s Comprehensive Spending Review.
The Department for Environment, Food and Rural Affairs (Defra) has announced that as part of its Comprehensive Spending Review settlement it is withdrawing funding for seven waste PFI projects – saving the government £26M by 2017-18- because they “will no longer be needed to meet landfill diversion targets set by the European Union”.
Transport for London (TfL) has survived the Comprehensive Spending Review with less than an 8% cut in planned capital spending, but road spending has been badly hit.
London mega-project Crossrail will be delivered a year late in a bid to protect the full scope of the scheme from government spending cuts.
Local government budgets have been slashed in chancellor George Osborne’s Comprehensive Spending Review
Network Rail spending to 2014 has survived the spending review almost unscathed, along with London’s Crossrail and key Tube upgrades.
Chancellor George Osborne has said up to £1bn will be set aside for the “world’s first carbon capture and storage demonstration project” and a further £1bn pumped into a Green Investment Bank.
Views on the spending review
As the dust starts to settle on the government’s spending review and the plethora of associated reports filter out, I have to say I’m starting to feel pretty positive about the future for civil engineers.
For months now the spending review has been hyped as a halloween horror story, but for contractors there was some comfort to be found in the transport-related announcements, says Rosemary Beales.
While the cuts look significant, none of this is a huge surprise, says Richard Parker, head of housing at PwC.
Simon Douglas, director of AA Insurance, is concerned that flood defence spending will not be maintained at current levels.
Despite the trepidation with which the spending review has been awaited the sky has not ‘fallen in’ for the industry as a whole, says Grant Thornton construction partner Kathryn Hiddleston.
Chancellor George Osborne’s commitment to introducing Tax Incremental Financing as part of the Comprehensive Spending Review has raised interesting questions over the shape of the regime in the UK., says Andrew Yates, commercial real estate partner at Berwin Leighton Paisner.