ACE has written to the Chancellor outlining a series of immediate, short and near term measures that could help the industry deal with the economic impact of the COVID-19 crisis on our sector.
The letter, co-signed by chief executive Hannah Vickers and ACE Chair 2020, Paul Reilly, highlights the strategic importance of our industry to delivering the Government's "infrastructure revolution" and stresses the vital role it has to play in as a catalyst for long-term growth.
Rather than “simply ask for a cash flow bail-out” these interventions would “help to de-risk the future pipeline and ensure the industry is “fit-for-the-future”.
The interventions include:
- A grant of up to £50,000 to SMEs in our sector to enable them to meet the digital requirements of working from home to be spent on hardware and specialist software.
- Acceleration of the pre-construction phase of Government programmes, including schools, hospitals and roads, to mitigate the downturn in private sector work, and help projects become shovel-ready sooner.
- Turning the high-level commitment of an “infrastructure revolution” into a reality with a clear published pipeline of projects in the Autumn to stimulate the wider economy and generate business confidence.
- Providing tax incentives for the housebuilding sector and further city deals to devolved Mayors to encourage private sector development.
- Investment in Future of Consultancy demonstrator projects, £1 million seed-funding towards the business case and wider funding for R&D and innovation. All of which will ensure the entire sector is more robust going forwards.
ACE will continue to support its members through these difficult times. As well as our proactive public engagement, we have created a regularly updated resource which shares the relevant health and business advice. Make sure you are aware of the latest advice and what support is available to you.