With the Autumn Budget just around the corner, businesses across the UK will be hoping that the Chancellor has more to offer than another set of economic forecasts and promises of future growth.
For the window and door industry, the question is a fairly straightforward one: will the Budget make it easier to do business?
The CBI has been pressing the government to address the cumulative cost of doing business, with electricity prices, employment costs and business rates all featuring prominently in its pre-Budget demands. Meanwhile, the construction industry’s own concerns centre on rising costs, weak demand and the difficulty of making projects financially viable.
These aren’t abstract economic arguments. They influence whether a fabricator invests in new machinery, whether an installer takes on another member of staff, whether a manufacturer expands capacity or whether a homeowner decides that now really is the time to replace those ageing windows.
And it is the uncertainty surrounding these decisions that may be just as damaging as the costs themselves. Reports ahead of the Budget suggest that some small businesses are delaying major investment until they know what the Chancellor has planned.
You can hardly blame them. Investing in people, premises and equipment requires a degree of confidence in what lies ahead. If businesses are constantly having to second-guess their costs, tax liabilities and future workload, it becomes much harder to commit.
Of course, the Chancellor has difficult decisions to make, and there is no magic wand that will resolve the UK’s economic challenges overnight. Nor can the government be expected to underwrite every business risk.
But if growth is genuinely the priority, then creating the conditions for businesses to invest should be central to the plan. That means a more predictable business environment, a competitive cost base and a credible pipeline of construction and retrofit work.
For our industry, the opportunity is considerable. Improving the energy efficiency of the UK’s existing housing stock, delivering new homes and upgrading commercial buildings all have the potential to generate demand for better-performing windows and doors.
The challenge is turning that potential into orders.
Next week’s Budget will be judged on many things, but for businesses across the glazing supply chain, perhaps the most important measure will be whether it leaves them feeling confident enough to invest in the future.
Will we get a budget for growth?
With the Autumn Budget just around the corner, businesses across the UK will be hoping that the Chancellor has more to offer than another set of economic forecasts and promises of future growth.
For the window and door industry, the question is a fairly straightforward one: will the Budget make it easier to do business?
The CBI has been pressing the government to address the cumulative cost of doing business, with electricity prices, employment costs and business rates all featuring prominently in its pre-Budget demands. Meanwhile, the construction industry’s own concerns centre on rising costs, weak demand and the difficulty of making projects financially viable.
These aren’t abstract economic arguments. They influence whether a fabricator invests in new machinery, whether an installer takes on another member of staff, whether a manufacturer expands capacity or whether a homeowner decides that now really is the time to replace those ageing windows.
And it is the uncertainty surrounding these decisions that may be just as damaging as the costs themselves. Reports ahead of the Budget suggest that some small businesses are delaying major investment until they know what the Chancellor has planned.
You can hardly blame them. Investing in people, premises and equipment requires a degree of confidence in what lies ahead. If businesses are constantly having to second-guess their costs, tax liabilities and future workload, it becomes much harder to commit.
Of course, the Chancellor has difficult decisions to make, and there is no magic wand that will resolve the UK’s economic challenges overnight. Nor can the government be expected to underwrite every business risk.
But if growth is genuinely the priority, then creating the conditions for businesses to invest should be central to the plan. That means a more predictable business environment, a competitive cost base and a credible pipeline of construction and retrofit work.
For our industry, the opportunity is considerable. Improving the energy efficiency of the UK’s existing housing stock, delivering new homes and upgrading commercial buildings all have the potential to generate demand for better-performing windows and doors.
The challenge is turning that potential into orders.
Next week’s Budget will be judged on many things, but for businesses across the glazing supply chain, perhaps the most important measure will be whether it leaves them feeling confident enough to invest in the future.
Luke Wood
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