Desperate times call for desperate measures, and the Chancellor’s Pre-Budget Report (PBR) delivered recently could herald a new era of co-operation between the Government and the construction industry. The PBR announced that £3billion worth of investment that was due to be carried out in 2010-11 is to be brought forward – news that has been welcomed by the Civil Engineering Contractors Association (CECA). Some of that investment will go towards road projects, flood defence schemes and the necessary infrastructure for new social housing projects also announced in the PBR.

In addition to this injection of capital into construction projects, Chancellor Alistair Darling also announced a raft of initiatives designed to take the pressure off small and medium sized companies, including temporary rate relief on some properties and the relaxation of tax payment periods for struggling companies. The aim of the PBR was to stabilize a shaky economy and get businesses moving again, particularly in the battered and bruised construction industry.

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