The 2022 Mini Budget – Driving Growth

With the UK experiencing its worst cost-of-living crisis in decades, the government has announced new measures to alleviate some of the planning bureaucracy for new energy developments to help stimulate the economy.

The new legislation will make it quicker to plan and build new roads, speeding up the deployment of energy infrastructure like offshore wind farms. In 2021 it took 65 per cent longer to get consent for major infrastructure projects than in 2012 (gov.uk). Other energy projects such as nuclear power stations, hydrogen production and carbon capture were also included on the list of projects to speed up planning.

These new measures are driven by the need to reduce the future demand for imported energy sources which has massively impacted energy bills for organisations and consumers.

Also reported was the injection of £2.1 billion over the next two years, designed to help Local Authorities, Housing Associations, Schools, and Hospitals invest in energy, efficiency and renewable heating.

In the coming weeks, the Government will set out further details of plans to speed up digital infrastructure, reform business regulation, increase housing supply, make childcare cheaper, improve farming productivity and back our financial services. There are also discussions with 38 local and combined authority areas to set up investment zones, which will release more land for housing and commercial development. These are designed to become hubs for growth, encouraging investment in new shopping centres, restaurants, apartments, and offices, and creating thriving new communities.

With the cost-of-living crisis affecting us all, Bloom are working with a number of organisations to mitigate these increases during this challenging time. Our dynamic marketplace for public sector clients ensures accelerated delivery by market leading suppliers ensuring outcomes and value for every pound spent.

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References

Bloomberg – https://www.bloomberg.com/news/articles/2022-09-23/uk-government-to-relax-planning-rules-for-onshore-wind?leadSource=uverify%20wall

UK.Gov – https://www.gov.uk/government/news/chancellor-announces-new-growth-plan-with-biggest-package-of-tax-cuts-in-generations