AtkinsRéalis responds to Comprehensive Spending Review

Responding to the Government’s Comprehensive Spending Review announced by the Chancellor, Chris Ball, President UK & Ireland, AtkinsRéalis, said:

“There is much to welcome in the Spending Review, including further investment in vital transport links, affordable homes and new nuclear, and a strong desire to shift swiftly into project delivery phase to unlock opportunities and deliver place-based growth.

“We also support the objectives that sit behind the investment plans published by Government. Infrastructure investment has always been a catalyst for growth and opportunity, but the funding plans today support a clear mission: improve regional connectivity, strengthen energy security, accelerate the build rate of affordable homes and boost socio-economic opportunities.

“Many of the funding decisions made today will kickstart growth and underpin broader programmes of renewal, including the trailblazer investment deals, and we welcome the Green Book Review towards place-based business cases that articulate the full economic value of a far broader array of projects.

“Private finance will be pivotal in funding new homes, new transport links, city regeneration programmes and critical national infrastructure. Attracting this investment relies on stability, certainty and credibility of plans.

“A shift towards a streamlined planning system will support this, alongside the long-term certainty that the impending Infrastructure and Industrial Strategies should provide, and the frameworks to fund and structure projects effectively.  There is also a clear role for industry to help create viable plans for deliverable projects, building a better business case that delivers the right outcomes for all parties.

“The UK is laying the building blocks to unlock rapid, efficient and inclusive growth in communities across the country, and we stand ready to support the delivery of projects across the UK to turn this ambition into action.” 

 
Commenting on the £39 billion funding for the Affordable Housing Programme also announced, Mark Powell, Managing Director for EDAROTH, (wholly owned by AtkinsRéalis) said:

“The £39 billion to fund the Affordable Housing Programme offers a once-in-a-generation opportunity to make a significant dent in the social housing challenge: this is a welcome reinforcement of the Government’s commitment to social and affordable housing that could unlock innovation and rapidly increase the build rate of new homes. 

“These plans follow  recent proposals to simplify and speed up delivery for SME developers, including the the use of innovations such as the small site aggregator tool, and we are optimistic that there will now be real momentum behind this commitment.

“The ten year rent settlement guarantee provides real confidence for potential investors by offering long-term, government-backed opportunities. This will unlock the funding necessary to deliver the social and affordable homes that are needed to develop thriving communities across the country.

“Alongside this, the £10billion of financial investments will help to enable the private sector to deliver the new homes needed if we are to reach the 1.5 million target within this parliament.

“We now look forward to further guidance from MHCLG on the specifics of how the AHP funding will be distributed.”