After seeing off all contenders, it has been confirmed that Rishi Sunak will be the new leader of the Conservative Party and is therefore destined to become Prime Minister. With so much at stake for the construction industry, the sector has been quick to react to the news…
Richard Beresford, Chief Executive of the NFB:
“It has been a very complicated three years for the construction industry and while we congratulate Mr Sunak on his fantastic achievement, we would caution that with less than two years until the next general election, the previous three years which saw modest attempts at business enabling policy reforms need supercharging.
“As representatives of the business community, of course we welcomed tax reforms, but we maintain that the best strategy to increase British productivity is to unlock opportunity through fair regulation and long-term thinking.
“Lower taxes are no use if the environment to invest in; for example, infrastructure, is a barrier, or if the wrong taxes are targeted. In the coming weeks, our manifesto, which will be sent to Prime Minister Sunak, will set out how to enable much needed growth, so that the new PM better understands how and why construction is the backbone to sustained productivity growth.”
Nick Sanderson, CEO, Audley Group
“Rishi Sunak, as the new Prime Minster, has a task on his hands and must get his feet under the table quickly. Key issues like housing, health and social care have been left on the ‘to-do’ list through the political turmoil of the last few months, and now desperately need attention. This doesn’t have to mean investment, especially at a time when the government needs to look at cost cutting, but it does require thinking cleverly. Planning reform, which mandates for age-specific housing in any new housing scheme, would have the single greatest impact on both the housing market, but also the way we look after our ageing population. And importantly, for the new Prime Minister, this doesn’t need a cash injection from the government coffers. Progress has started with the cross departmental Housing with Care taskforce, and this must now be prioritised.”
David Hopkins, CEO, Timber Development UK:
“Like many other parts of the construction industry, timber businesses are crying out for some political stability right now. We hope the appointment of Rishi Sunak as PM will provide this and continue to calm down the markets too. Of course, he has some urgent economic issues to prioritise, but for TDUK members, whether he’s a good PM or not will also be judged by his actions on Net Zero.
“Liz Truss commissioned a review of Net Zero policies to ensure they are pro-growth and pro-business, following increasing skepticism amongst conservative MPs. We firmly believe that a Net Zero strategy with effective and targeted regulation is a driver of economic growth and can be part of the solution to this country’s difficulties. We look forward to productive conversations with Mr Sunak’s ministers on this and other issues in the coming months.”
Melanie Leech, Chief Executive, British Property Federation:
“The last few months have damaged the UK’s international reputation and economic standing. The country urgently needs strong and competent leadership to rebuild confidence. The new Prime Minister needs to confirm their leadership team as soon as possible and provide clarity on their strategy for stabilising the economy and their policy priorities. The property industry stands ready to work with Rishi Sunak in creating a thriving economy and addressing regional inequalities through the delivery of new homes, work and leisure spaces that are essential to revitalising our towns and high streets.”
Cllr James Jamieson, Chairman of the Local Government Association:
“On behalf of councils across England and Wales, I would like to congratulate Rishi Sunak on becoming our new Prime Minister. As a former Local Government Minister and Chancellor, the PM already understands the mounting pressures that the sector face and the funding that councils desperately need to ensure they can keep vital services running for the many people who rely on them.
“Across the country, councils are working hard to support residents with the cost of living; looking after our most vulnerable children and adults; building desperately needed homes; supporting children with SEND and providing accommodation to those fleeing Ukraine and Afghanistan.
“However, without certainty of adequate funding – and given the funding gaps they are seeing – councils will have no choice but to implement significant reductions to services including to those for the most vulnerable in our societies. In these difficult times, we all need to come together and work in the best interests of our residents. The Government needs to ensure councils have the funding to meet ongoing pressures and protect the services that will be vital to achieve its ambitions for growth and to produce a more balanced economy, level up communities and help residents through this cost-of-living crisis.”
Hugh Blaza, senior consultant at Sandstone Law:
“So what will be different from the Truss ‘blink and you’ve missed it’ premiership. How could we know? Not a single speech from Sunak throughout the campaign and so we find ourselves with a new PM elected by fewer than 200 people and with no discernible mandate. During his summer jousts with Truss, Sunak adopted the ‘triple repeat’ approach, believing (presumably) that if he said the same word more than twice, it would be remembered as if it had been carved into tablets of stone. But does anyone still recall the ‘brownfield, brownfield, brownfield’ mantra Sunak trotted out to reassure the Conservative shires that their green belts would (despite the sacrifice of them in so many already adopted local plans, not to mention that little parcel of agricultural land he needed to accommodate his new swimming pool) be safe?
“And what of charter cities where planning laws may become a distant memory? And then there’s the ‘bonfire of regulations’ which look destined for the shredder as a result of The Retained EU Law (Revocation and Reform) Bill 2022?
“The trouble is, no-one, least of all the tiny handful of people who supported Truss, then Johnson, then Mordaunt, then Sunak himself knows or cares. The best we can take from the past four months is that we are that much closer to a General Election when the politicians who want our votes will need to put their cards on the table. Until then, it’s the wild west out there.”