14-Jul-2015

Budget looks to benefit infrastructure industry

Budget looks to benefit infrastructure industry

George Osborne unveiled his seventh budget as Chancellor of the Exchequer last week, outlining a number of key business-related plans which could affect those working in the infrastructure sector.

Among the biggest changes he spoke of during the announcement yesterday was the new apprenticeship levy for large employers, with Osborne planning to create an additional three million apprenticeship schemes by 2020.

In an alarming government figure released earlier in the year, the number of people attending training courses away from the workplace dropped from 141,000 in 1995 to just 18,000 in 2014. This is a downward trend that Mr Osborne looks to rectify with his new budget.

McGinley provides apprenticeship opportunities through the Rail Apprentice Placement Scheme (RAPS) and our other safety training schemes, which are considered to be some of the top nationwide. The chancellor’s announcement demonstrates a renewed commitment to training, particularly in such industries as infrastructure and with such training schemes are ours. We hope this will result in more people taking an apprenticeship with us and finding solid work opportunities afterwards.

One million jobs to be created by 2020

As he expects the economy to experience a steady level of growth in the years ahead, it’s predicted that an extra one million jobs will be created by 2020. It is fantastic news for those currently looking for infrastructure jobs, particularly with so many opportunities to become available in the coming years.

Another key point raised in the budget was the ring fencing of £30m over three years to further develop transport links in the North of England. The spearhead of this project will be the creation of a brand new body called Transport for North. One of the main plans is to introduce an ‘Oyster-style smart and integrated ticketing’ system across bus, tram, metro and rail services – considered a top priority by Mr Osborne.

With such vast levels of funding being pumped into the project, more construction firms will be looking to recruit. This is likely to result in countless jobs in the highway sector and rail industry being created across the country, as integrated transport links across Northern England are significantly enhanced during the coming years.

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