The largest trade association in Britain, the Renewable Energy Association (REA), has welcomed Nick Clegg’s announcement to provide a £100 million fund for green investment that will boost the renewable energy industry and create new jobs.

Making the announcement today, Deputy Prime Minister Clegg said that the multimillion fund will enable the UK Green Investments team (UKGI) to see more domestic and foreign investments to the renewable industry.

Chief Executive of the REA, Gaynor Hartnell, praised the Deputy Prime Minister for his leadership and commitment to the renewable energy sector.

He said: “We need clear leadership from the top of Government on renewable energy, so the Deputy Prime Minister’s unequivocal commitment to renewable energy is very welcome and timely.

“He is quite right that a global energy revolution is underway and we look forward to working with him to ensure the UK fulfills its extraordinary potential.”

However, Mr Hartnell said that the Coalition Government needed a more stable policy framework to make sure the UK’s renewable industry continues to expand, paving the way for green jobs in the future.

Mr Hartnell said: “The Coalition Government needs to do much better on providing a clear and stable policy framework to make sure the UK isn’t left further behind.

“Recent decisions on support levels for renewable power technologies, which have failed to provide the expected certainty out to 2017, together with the uncertain status of the Electricity Market Reform package, do not provide the stable framework that industry needs.”

Do you also welcome Nick Clegg’s intervention to boost the green economy? What else the Government could do to further accelerate green investment and create more jobs? Share your thoughts by commenting here or raising your voice on our Facebook page.

Deputy Prime Minister Nick Clegg has announced a £100 million fund for green investment which will create new jobs in the renewable energy industry.

Speaking to an energy conference in London’s Lancaster House today, Mr Clegg defended the Government’s commitment to support the renewable energy sector, outlining lasting benefits to the UK low-carbon economy.

He announced multi-million contracts by UK Green Investments (UKGI) with fund managers Equitix and Sustainable Development Capital (SDCL) to provide initial capital to encourage foreign and domestic investment in non-domestic energy efficiency.

The Deputy Minister’s announcement was hailed with a £12 million expansion by a recycling firm Closed Loop in Dagenham, East London, that will create and safeguard 100 jobs.

The UK is the sixth largest market in low carbon goods and environmental services in the world. It contributes 3.9 per cent of the UK’s GDP and employs 173,000 people.

The Deputy Prime Minister said that the Coalition Government is ‘unreservedly committed’ to help Britain’s low carbon sector thrive, providing a clean and green economy.

He said: “There is a global energy revolution underway and the UK is not going to be left behind. We’re leading from the front.

“Together we find ourselves at the vanguard of one of the most dynamic, most innovative, most important industries of our time; an industry whose breakthroughs and endeavours will shape our societies for years to come; an industry that will help us build a more stable, more sustainable, more prosperous world.”

What is your reaction to the Government’s £100 million fund that will accelerate investment in the renewable industry and create new jobs?  Share your thoughts by commenting here or raising your voice on our Facebook page.

“Post-Olympic Work to Create New Jobs in the Trades” 

The London Legacy Development Corporation (LLDC) has appointed Britain’s second biggest homebuilder to build the first of the five new neighbourhoods on the Olympic Park.

The appointment of Taylor Wimpey and asocial housing landlord L&Q will transform the 9.3 hectare Chobham Manor site, delivering 870 new homes and supporting thousands of new jobs in the trades.

Sitting between the Athletes’ Village and the Lee Valley VeloPark, the development of Chobham Manor will address the residential needs for larger homes, with more than 75% of the new homes offering family housing.

Eleven thousand new homes, schools, nurseries and shops are set to be built in the Olympic Park over the next 20 years after the London Games leave town.

Daniel Moylan, Chairman of the London Legacy Development Corporation, said: “Chobham Manor will set the tone for the high quality neighbourhoods we want to create across the Park with new schools, health centres and community spaces to support them.”

The Mayor of London, Boris Johnson, welcomed the announcement by emphasising the future benefits for local communities and the increasing accommodation needs in the city.

Mr Johnson said: “With the incredible energy of London 2012 captivating audiences across the world, the long-term legacy of the Olympic Park is quietly going from strength to strength.

“The development of Chobham Manor is major milestone and will help ensure a thriving community on the Park becomes a reality sooner rather than later.”

What are your reactions of the Olympic Games and the lasting legacy they will bring to London’s infrastructure? Do you welcome the Post-Olympic work which is set to deliver thousands of new homes for Londoners? Share the wider implications of the Games for you and your business by commenting here or raising your voice on our Facebook page.

The Treasury has officially opened the Funding for Lending Scheme (FLS) which will enable businesses to grow and borrow money at a cheaper interest rate for up to four years.

The scheme will deliver economic growth and increase infrastructure investment to the UK which will create jobs for trade professionals including electricians, plumbers and gas engineers.

Commenting on the FLS Chancellor George Osborne said that the scheme will provide lasting benefits for thousands of people in Britain and boost the economy.

Mr Osborne said: “Today’s announcement aims to make mortgages and loans cheaper and more easily available, providing welcome support to businesses that want to expand and families aspiring to own their home.”

It is expected that banks currently offering loans through the National Loan Guarantee Scheme (NLGS) will continue to offer their NLGS branded product.

The Chancellor said: “The NLGS has made a real difference, with over 16,000 cheaper loans worth over £2.5bn already offered to businesses across the UK. In many cases, the money saved has meant an extra person employed who otherwise still might be looking for work.

“The more generous FLS has officially opened for business and will in time effectively take over from the NLGS, delivering credit easing to the whole economy.”

Do your predictions correspond to Chancellor’s indications for economic growth and more jobs? What do you think about the FLS? Share your thoughts by commenting here or raising your voice on our Facebook page.

Speaking today at the largest trade and investment event ever held in Britain, Prime Minister David Cameron said that the £8 billion development of the Battersea Power Station in South West London will create 20, 000 jobs during its construction.

The mixed development will contain homes, office space, a hotel and retail space and will see the Northern Line extended with a new transportation hub at the Power Station site.

The Global Investment Conference, launched by the Prime Minister, is the first of a series of global business summits being held in London to showcase the UK during the Olympic and Paralympic Games. The event is expected to generate hundreds of thousands of new jobs for people in the trades.

The conference kicks off the largest and most ambitious set of trade events held in Britain. During the six weeks of the Games, the British Business Embassy will host 17 global business summits that will bring over £1 billion of deals and projects.

These events will allow more than 4,000 business leaders and politicians to exchange views and ideas, discuss local and international economic challenges as well as develop strong global partnerships for future growth and showcase the best of British business to the world.

Chancellor George Osborne said: “Britain has always been a country that is open to the world. In hosting the Olympic Games, we are showcasing that openness. As we welcome the world’s best athletes, we also welcome the world’s best companies – so that they can succeed, invest, and create jobs in Britain.”

Business Secretary Vince Cable said: “Tomorrow we welcome the world to London as the 2012 Olympic Games get underway. This summer is more than just a great sporting spectacle – it is an unrivalled opportunity to promote the best of British industry and make the most of our openness to foreign trade and investment.”

This month, the UN’s World Investment Report showed that the UK had retained its place as the number one destination in Europe for inward investment. The report showed that there were almost 60,000 new jobs created last year as a result of inward investment.

 

What is your reaction to the Global Investment Conference that could bring billions of pounds to the UK economy?  How much of an impact will the Olympics have on your business? Share your thoughts by commenting here or raising your voice on our Facebook page.

Increased demand from first-time buyers coupled with the government’s increased investment in the housing market are driving new private housebuilding projects to grow by 40 per cent in the second quarter of 2012, resulting in more employment opportunities for people in the trades.  

New data published by construction industry analyst Glenigan has revealed significant year-on-year growth in the underlying value of new private housing project starts in the first two quarters of 2012, compared to the same period in 2011.

Glenigan forecasts indicate that the underlying value of project starts will increase by 29% over 2012 providing further employment opportunities for builders and trade professionals, including electricians, plumbers and gas engineers.

Glenigan said the findings are giving a strong indication that confidence is returning to the private housebuilding market, paving the way for more jobs in the building construction industry.

Economics Director at Glenigan, Allan Wilén, said that despite weak economic conditions and a fragile banking sector, housing developers have seen an increased demand from first-time buyers and the government’s incentive schemes which have helped them to make a swift economic recovery.

Commenting on the sector’s future performance Mr Wilén said:“While the threat of an increase in interest rates and the end of the stamp duty holiday have stymied the market to a certain extent, we expect the sector to continue to grow through 2012 and 2013 as the wider economy begins to recover once more.”

The figures from Glenigan, compiled through comprehensive data collation and exhaustive research, reveal that London and the South East continue to dominate the market having accounted for almost a third of the value of all new private housing schemes starting on site in the first half of 2012.

Do you welcome the figures by an industry expert Glenigan indicating significant house-building activity in the second quarter of 2012? Let us know what the implications might be for you or your business by commenting here or raising your voice on our Facebook page.

The Government will enable businesses across Britain to access more and cheaper loans which will boost the economy and create new jobs, the BBC has reported.

Chancellor George Osborne announced the new £ 80 billion scheme, describing it as “a huge help for the British economy” which will give businesses the confidence to grow.

Under the Funding for Lending Scheme British banks will be able to lend money to businesses at a low interest rate, enabling the expansion of smaller businesses and the creation of new employment opportunities.

The Chancellor said: “Today’s announcement aims to make mortgages and loans cheaper and more easily available, providing welcome support to businesses that want to expand and families aspiring to own their home.”

Mr Osborne added the initiative would “inject new confidence into our financial system and support the flow of credit to where it is needed in the real economy – showing that we are not powerless to act in the face of the Eurozone debt storm”.

Welcoming the government’s announcement Director-General at the CBI, John Cridland, said: “This new scheme should provide a real incentive for banks and building societies to increase their lending to businesses and individuals, if possible at lower rates of interest.”

What is your reaction to the Funding for Lending scheme and how do you think you will be able to benefit from the £80 billion investment? Let us know what you think by commenting here or raising your voice on our Facebook and Twitter page.

Barratt Developments PLC is today issuing a trading update for the Company and its subsidiaries (the “Group”) for the year ended 30 June 2012 ahead of its annual results announcement on Wednesday 12 September.

Highlights

• Group revenues up by c. 14% for the full year to c. £2,320m, with total completions of 12,637 units
• Group operating profit before exceptional items for the full year expected to be up by c. 41% at around £191m
• Operating margin expected to increase to c. 9.5% in the second half and c. 8.2% for the full year, up from 6.6% in the prior full year
• Full year profit before tax and exceptional items expected to increase by c. 158% to c. £110m
• Net debt almost halved against the prior year to c. £170m as at 30 June 2012, significantly lower than previous guidance
• Private forward sales up 34.6% to £378.4m as at 30 June 2012

Mark Clare, Group Chief Executive commented,

“This year has seen a rapidly improving performance across the Group and shows that our strategy is delivering, with profits up more than 150% and an almost halving of our net debt. We expect to make further good progress in the year ahead thanks to a strong forward order book, with private forward sales up 35% and more higher return land

The Future
Barratt Developments has made significant progress in both rebuilding profitability and reducing indebtedness during the year just ended.  Despite continued uncertainty surrounding the outlook for the wider UK market and constrained levels of mortgage finance, the industry has enjoyed a period of relative market stability.  Looking ahead, we expect the Government’s housing initiatives, in particular its mortgage indemnity scheme NewBuy, to continue to provide the industry with support.

In the current financial year we expect to make further good progress with more than half of completions forecast to be delivered from our more recently acquired higher margin land.

What do you think of the positive performance by one of Britain’s largest housebuilders? Share your opinion by commenting here or raise your voice on our Facebook page.

Building, Engineering and Construction work of the Olympic Park for London 2012 has raised the public profile of the industry, helping millions of people in Britain to appreciate the importance of civil engineering to society, a survey by a leading engineering body revealed today.

A new survey published by the Institution of Civil Engineers (ICE) showed that over half of the public (53%) no longer just think about bridges when they think of civil engineering in the light of the London 2012 Olympic Games.

Nearly half of the 2, 000 people who took part in the ComRes survey  said they would consider civil engineering to be a ‘respected’ profession, alongside jobs such as lawyers and teachers.

More than 46,000 jobs have been created as a result of the London 2012 construction project. Post-Olympic work, taking place just after the closing ceremony next month, is expected to create thousands of extra new jobs.

The successful delivery of the £7-billion worth Olympic infrastructure has raised the public profile of civil engineers and people working in the trades.

45% of the people who participated in the survey say they would consider civil engineering to be a ‘respected’ profession, alongside jobs such as lawyers and teachers. Over a third (38%) of the participants said they would encourage their children to pursue a career in civil engineering.

ICE President Richard Coackley said: “Our day-to-day lives depend on the infrastructure around us that is designed, built and maintained by civil engineers – from roads, railways and bridges to energy, water and waste networks.

“It forms the backbone of society and the economy. But unfortunately it is often only when things go wrong that the work of civil engineers is thrust into the media spotlight.

“The London 2012 Games have changed this – showcasing and celebrating the work of these often ‘unsung heroes’ while at the same time helping the public understand more about what civil engineers do and what a diverse and exciting career it is.

“If anything could excite and inspire young people to pursue civil engineering as a career it’s the Olympic and Paralympic Games – a true feat of engineering in every sense.”

What’s your reaction to the survey by the ICE indicating a bright future for civil engineers and people in the building construction industry? Share your thoughts by commenting here or raising your voice on our Facebook page.

 

The Homes and Community Agency (HCA) published new figures today revealing that the Mayor of London, Boris Johnson, is on track to build 100, 000 affordable homes by 2015.

More than 54, 000 homes were built in Mayor’s first term, exceeding Mayor Johnson’s pledge to provide 50, 000 affordable homes for Londoners over the four-year period of his term. In the past year 16,000 homes were built in London, which means Boris Johnson has exceeded his initial target by 4, 000 homes.

The government has given new powers to Mayor’s office in order to boost housing delivery in the capital. Mr Johnson has now pledged to build up to 100, 000 affordable homes with potential to create 100, 000 new jobs

The Mayor of London, Boris Johnson, said: “Four years ago I said that if we were going to improve Londoners’ lives it was going to be essential that we boost affordable housing supply in the capital. The hard work is by no means over but despite some of the most challenging economic conditions for decades we have delivered more than 54,000 affordable homes over the past four years.

“By 2015 we will have delivered over 100,000 affordable homes for London, which will give a vital boost for jobs and the wider economy, as well as providing decent places that people actually want to live in.”- added Mr Johnson.

Share your experiences about finding affordable homes in the London area? What is your reaction to the Mayor’s plan to deliver more affordable homes for Londoners? Let us know what you think by leaving a comment here or raising your voice on our Facebook page.