Autumn Budget 2024 Update

• 𝗛𝗼𝘂𝘀𝗶𝗻𝗴: Significant investment in housing to meet the Government’s target of 1.5m new homes in the Parliament, including: £3.1bn affordable homes programme; £3bn in guarantees to boost supply of homes - aimed at supporting SME housebuilders; investment to unlock sites; funding for Cambridge to ‘realise its full growth potential’; and 300 new planning officers.

• 𝗧𝗿𝗮𝗻𝘀𝗽𝗼𝗿𝘁 𝗶𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁: Significant investment to confirm delivery of HS2 from Old Oak Common to Birmingham, and tunnelling to London Euston; delivery of East West Rail’s Oxford to Milton Keynes line next year and Oxford to Bedford to follow; £1.3bn to improve connectivity in city regions; and, significant improvements to rail connectivity in the north.

• 𝗚𝗿𝗲𝗲𝗻 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁: New funding, including £3.4 billion for energy-efficient home upgrades, 11 large-scale green hydrogen projects and expanded carbon capture initiatives in areas such as Merseyside and Teesside.

• 𝗡𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗪𝗲𝗮𝗹𝘁𝗵 𝗙𝘂𝗻𝗱: Dedicated resources to support long-term national investment in ‘industries of the future’, including: £1bn for aerospace sector; £2bn for automotive – focused on the EV industry; and £520m for life sciences manufacturing fund.

• 𝗥𝗲𝗴𝗶𝗼𝗻𝗮𝗹 𝗳𝘂𝗻𝗱𝗶𝗻𝗴: New agreements granting local regions increased control over budget allocations, with particular implications for Greater Manchester and West Midlands.

Our expert teams will be sharing insights on what this means for our industry and different areas of the country.

Be sure to follow their pages to stay informed on how these developments could affect your projects:

𝗘𝗮𝘀𝘁 - Leah Tompkins
𝗦𝗼𝘂𝘁𝗵 𝗘𝗮𝘀𝘁 - Emily Taylor
𝗠𝗶𝗱𝗹𝗮𝗻𝗱𝘀 - Jack Boyce
𝗦𝗼𝘂𝘁𝗵 𝗪𝗲𝘀𝘁 -JAMES MALLINSON