Construction Sector boosted by further devolution?
Published byJohn Grant
Under new plans announced in the Queen’s Speech, the Scottish Parliament is to receive new devolved powers to raise 40 per cent of taxes and decide about 60 per cent of public spending.
The proposed Scotland Bill is set to give the Scottish Government new welfare powers worth £2.5 billion. In her speech, the Queen stated:
“This should ensure Scotland enjoys the benefits of economic decision making closer to home within a strong and secure UK system and shared UK currency.”
Leaving aside the political catchphrases which bear the strong hallmark of having been written by the new Conservative Government, not everyone is as optimistic.
The Chartered Institute of Housing (CIH) Scotland has expressed its concerns, warning that the bill could see the Scottish Government making decisions on welfare that it cannot financially undertake. CIH Scotland blame a lack of clarity on how powers are to be exercised for these concerns, highlighting the potential risk that the Scottish Government could be left in a position where it has the power to make policy decisions but lacks the financial capacity to be able act on these powers.
However, the Royal Institute of Chartered Surveyors (RICS) have been reported as saying this promises to help deliver a more consistent economic and construction strategy for Scotland.
RICS argue that the Scottish Government has a commendable record on construction and infrastructure investment, and are hopeful that the government administrations will use the Scotland Bill provisions, when enacted, to continue to improve confidence in the construction sector.
This is definitely something for the sector to keep an eye on, to ensure that opportunities can be grabbed if they become available.
