What the King’s Speech tells us about the future of construction

Simone Davids-Lyle shares key takeaways from the King's Speech and what it means for the built environment.

By Simone Davids-Lyle
31 Jul 2024

In July 2024, King Charles III delivered the first King’s speech for a Labour government since 1945.

The King’s speech marks an important moment in any government as it sets its agenda for the next parliamentary period. In this case, it represents the Labour Party’s first opportunity to deliver change after a lengthy period in opposition.

Led by Prime Minister Keir Starmer, the Party has outlined a comprehensive suite of policies aimed at addressing some of the nation's most pressing issues. This includes devolution, housing, climate action, and sustainability.

Having made commitments to achieve net zero by 2050, there is a real focus on renewable energy and green job creation. It’s clear that Labour has a vision for a fairer, greener, and more prosperous UK.

Labour’s focus on social value

Labour has advocated for public procurement processes that prioritise social value. This means contracts should consider factors like local job creation, environmental sustainability, and community benefits, not just the lowest price. They have also pledged to introduce a ‘Social Value Council’ to review how social value can be better strengthened and delivered in public contracts.

Get Britain building

Labour has announced the new Planning and Infrastructure Bill to help drive economic growth. They have also pledged to build 1.5 million homes in five years by streamlining planning and fast-tracking infrastructure projects, as well as ending rough sleeping and implementing rent controls to ensure secure and affordable housing for all.

Devolution of power to local authorities

The Labour Party advocates for the devolution of power to local authorities (LA’s) to enhance local governance and empower communities. By decentralising decision-making, Labour aims to ensure that local governments have the authority and resources to address the specific needs and priorities of their communities. This includes greater control over public services, economic development, and local taxation, and fostering more responsive and accountable governance.

Labour’s renewable energy and climate action plans

The party is committed to achieving net zero carbon emissions by 2050 through renewable energy investments, green job creation, and a comprehensive climate action plan.  They also promote sustainable development through policies on reducing waste, enhancing biodiversity, and transitioning to a green economy.

Tackling the skills shortage

The speech also discusses the reorganisation of the Institute of Apprenticeships and Technical Education and the creation of a new Skills England body to assess national and local skills needs. With construction suffering a net loss of 10,000 workers last year, an additional 152,000 workers will need to be found to meet Labour’s new housebuilding plans.

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These initiatives cover a broad spectrum of issues and challenges in the industry. With aims to provide affordable housing and to implement rent controls, Labour's housing strategy seems to be the most prominent, as does the party's ambition to achieve net zero housing by 2050.

In the coming months, it will be interesting to see the effects of Labour policies on the construction industry.

By Simone Davids-Lyle

31 Jul 2024

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