On 22 November 2017, The Chancellor of the Exchequer, Phillip Hammond, delivered the Autumn Budget 2017, which outlined the way the government intend to spend the nation’s money over the next year. Our experienced research team have studied the government’s financial intentions, and have also evaluated the past year’s trends so that we can understand and predict the engineering industries that are particularly likely to grow and have prominence in the next financial year.
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How will the Budget influence engineering?
In the upcoming years, the automotive industry is set to be one of the most important engineering sectors, not just in the UK, but across the globe. There has been plenty of speculation concerning the introduction of electric and driverless cars to public roads, and it appears that the former is about to receive substantial financial backing. The Chancellor of the Exchequer revealed that “our future vehicles will be driverless, but they’ll be electric first and that’s a change that needs to come as soon as possible”.
It was confirmed that a new £400 million charging infrastructure fund would be established for electric cars, as well as an additional £100 million to cover plug-in car grants. These measures aim to reduce pollution by having more people use cleaner, low-emission vehicles rather than petrol or diesel cars. £40 million will also be used to fund Research and Development into the EV industry, with the hope that low-emission vehicles will be an efficient and long-lasting solution. It has also been disclosed that the aim is for fully driverless cars to be on the roads by 2021.
The large sum of money that is being pumped into this particular industry highlights how the automotive industry is a thriving industry, and one that is likely to continue to grow in the forthcoming years. The government’s intentions show that they have long-term plans to develop the vehicle industry, which should be music to the ears of all people working within and intending to work in the automotive industry! Automotive engineers will be especially sought after in the approaching years, particularly from car manufacturers who are looking to develop electric cars, and eventually driverless cars.
At BMR Solutions, we are often pairing automotive engineers with reputable companies. Take a look at our current vacancies.
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The Autumn Budget 2017 also implies that the construction industry is likely to have significant importance in the coming years. The Government plans to spend at least £44 billion of capital funding, loans and guarantees on supporting the UK housing market, with plans to build 300,000 houses every year by the end of this Parliament. Current government statistics show that housing supply has already increased from 137,000 in 2010 to 210,000 in 2016, and this new target indicated that this figure is continuing to climb, which is inevitably going to increase the demand for construction engineers.
The Government have also declared that they will provide £34 million to scale up innovative training models across the country, further showing their intention of evolving the UK housing market. Phillip Hammond stated that “this announcement is a positive result for employment opportunities at all levels within the housing sector. However, it will present challenges for construction companies looking to hire in an already skills-short environment”.
Otherwise known as civil engineering, the construction industry is predicted to continuously grow from 2018. The plans for new housing will mean that roads and transport links will also have to be built, increasing the demand for civil engineers and other personnel within the construction industry. Our team of experienced and professional staff have established a creditable portfolio of clientele in Bristol and the surrounding area, several of which are involved in the construction industry. Upload your CV today so that one of our technical experts can get in touch with you and understand the type of role you are searching for.
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Engineering and mechanical industry
It also appears that there is a large focus on the engineering and mechanical industry in general. The Government have stated that they will invest £406 million into maths and technical education, which will be spent in a variety of ways. £27 million of this would be used to expand the Teaching for Mastery maths programme, a successful and renowned teaching technique that was first introduced to half of England’s primary schools in 2016. This will give children of 3,000 additional schools the opportunity to be taught by world-leading techniques that originated in south Asia.
It was also stated that schools and colleges will be rewarded with £600 for every extra pupil who decides to take Maths or Further Maths A Level, giving schools an incentive to focus on maths and encourage more students to take it as an A Level. The fact the government are supporting secondary school students to study maths to a higher level suggests that the mechanical and engineering industry is likely to grow in the long-term future. This is complimented by the government’s plans to create a new partnership with industry and trade unions to deliver a National Retraining Scheme, giving people the skills they need throughout life to get a well-paid job, and equip young people with the science, technology, engineering and maths (STEM) skills to become innovators of the future. It’s certainly exciting times for the mechanical and engineering industry!
If you’re looking for the best mechanical and engineering opportunities in the south west, upload your CV or contact us today – we are often partnering up talented staff with the most reputable companies, and you could be next!
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