RICS CEO comments on Spring Statement

The Royal Institution of Chartered Surveyors (RICS), comments on the announcements in Chancellor Rachel Reeve's Spring Statement.

RICS CEO, Justin Young, said:

“We are glad the Chancellor has announced a number of measures RICS have been advocating for to support housebuilding, skills development and businesses. 

“The announcement by the government of an additional £2 billion investment to build 18,000 new social homes is an enormous boost for the sector. Alongside ongoing reforms to planning, this should provide increased confidence for housebuilders across the country. According to RICS data, the gap between housing demand and supply continues to widen, so these new social homes will prove vital for supporting new supply and crucially housing the most vulnerable. 

“The £600 million of additional funding for construction sector skills is a decisive investment in the UK’s built environment. This should help secure the next generation of construction sector workers and professionals as we look to tackle the challenge of an aging workforce alongside acute labour and skills shortages. If this can be combined with a new GCSE for the Built Environment in England, we can drive fresh talent to take up the new opportunities afforded by this investment.

"We are pleased the government will publish plans for much needed business rates reform later this year - hopefully creating a fairer system for businesses as they face increasing financial pressure.

“Given that the country currently faces deep economic challenges, these measures are certainly positive news for the built environment. While this isn’t everything on our list of asks, this is certainly a step forward. We look forward to continuing our conversation with the government as it seeks to transform the built environment.”

-ENDS-

Notes for editors:

About RICS

We are RICS. Everything we do is designed to effect positive change in the built and natural environments. Through our respected global standards, leading professional progression and our trusted data and insight, we promote and enforce the highest professional standards in the development and management of land, real estate, construction and infrastructure.

Our work with others provides a foundation for confident markets, pioneers better places to live and work and is a force for positive social impact.

For more information:

Kris Hicks

Khicks@rics.org