Osborne today put construction at the heart of the economic recovery

This article was taken from Construction Enquirer – click the link to read the full article.

Chancellor George Osborne put construction at the heart of the economic recovery today as he unveiled sickly growth figures in the Autumn Statement.

 

Downgraded figures from the Office for Budget Responsibility confirmed the economy will contract by 0.1% this year before growing by 1.2% in 2013, 2% in 2014 and 2.3% in 2015.

He described the statement as “fiscally neutral” with money shifted from current to capital spending.

Osborne confirmed an extra £5bn for capital investment funded by efficiency savings across Whitehall departments as annual infrastructure investment was increased to £33bn.

Osborne said: “The British economy is healing. There are no quick fixes but we are making progress and Britain is on the right track. Turning back now would be a disaster.

“We are confronting the country’s problems rather than ducking them.

“In everything we do we are helping those who want to work hard and get on.”

To read up on new spending proposals and information regarding the reforms of the PFI system please visit Construction Enquirer website.