Catch up with all of our Budget 2017 content:
All the announcements, reaction and implications for the construction industry.
Budget 2017 - Key points
- New technical qualifications – T-levels – to be introduced from autumn 2019. Number of hours of training for technical students aged 16 to 19 to increase by more than 50%
- Maintenance loans for students doing higher-level technical courses – like those available to university students
- £300m to back 1,000 new PhD places and fellowships in STEM (science, technology, engineering and maths) subjects
- £690m for new local transport projects, to help pinch points on roads and public transport
- £220m to improve congestion points on national roads, with £90m going to the North and £23m to Midlands
- Funding for another 140 new free schools, on top of 500 already announced. Thirty of the 140 will open by September 2020
- £216m to be invested in school maintenance
- £270m for industrial strategy challenge fund to back research and innovation in universities and businesses, including AI and robotics
- Main rate of national insurance contributions (NICs) for self-employed to rise. Class 4 NICs will increase to 10% in April 2018 and to 11% in April 2019
- £16m for a national 5G Innovation Network to trial 5G technology.
- £200m for local projects to build fast and reliable full-fibre broadband networks.
- Government looking at a taskforce to explore “piloting a new approach to funding infrastructure”
- Consultation to launch on options to combat missing trader VAT fraud in the provision of labour in the construction sector
- No mention of housebuilding, PF2, Crossrail 2 or major infrastructure