Weekly News Bulletin - 13th October 2017
This week, Greater Birmingham Chambers of Commerce reported that the UK could boost GDP by £43bn if it reduces the number of young people not in education, employment or training (NEET) to match Germany, the best performing EU country. Currently the UK is 18th out of 35 Organisation for Economic Cooperation and Development (OECD) countries. With Aston University being awarded £250,000 to support the growth of degree apprenticeships, we hope this will start the journey to increase the UK ranking for GDP. Here at Metsec, we are passionate about encouraging young people into the industry, both in terms of the skills they bring, but also the skills they can develop.
We shared news that phase two of the Walsall Waterfront development has been completed, bringing us ever closer to the 17-acre leisure complex. This news comes at the same time that Express & Star shared that the Gaumont Cinema in Wednesbury is undergoing a refurbishment as part of a £2million investment. We are in full support of any investment into the Black Country and we will keep you updated on both regeneration projects as we know more.
Reuters reported that British factories had their strongest two months of 2017 in July and August. The Office for National Statistics (ONS) said manufacturing output rose by a monthly 0.4 percent in August, faster than a forecast for output to rise 0.2 percent in a Reuters poll of economists. We hope this increase in output continues!
We also saw the NEC welcoming over 650 exhibitors for the much anticipated UK Construction Week. With a wide range of topics such as social housing and offsite construction, did you manage to attend, and what did you think?
Over the last two weeks, we have reported conflicting results from different trade bodies voting for, and against, the Construction Industry Training Board (CITB) continuing to raise a training levy. It was revealed this week that the CITB has secured its future for the next three years after the majority of the industry voted to continue with its training levy past next April. Let us know if you think this was the correct decision.
Finally, we shared Construction News’ thoughts on the construction industry starting to discuss the subject of mental health. Taking care of your mental health is so important, regardless of what industry you are in, and we actively encourage conversations about mental health.
UK improving young workers' job prospects – report
The UK could boost GDP by £43bn if it reduces the number of young people not in education, employment or training (NEET) to match Germany, the best performing EU country.
University awarded £250k to offer more degree apprenticeships
Aston University has been awarded £250,000 to support the growth of life-changing degree apprenticeships and help educate SMEs on the huge value it can bring to their business.
Waterfront development gathers pace
National property and construction consultancy Wakemans has completed work on phase two of the Walsall Waterfront development, which will introduce four new restaurants to the multi-million pound mixed leisure complex.
Historic Black Country cinema to rise from ashes after fire
The plaster may be coming off the walls and rubbish is strewn across the broken floor panels – but this former Black Country cinema is destined to be restored to its former glory.
Sterling strengthens as strong data cement November rate hike bets
Sterling strengthened against a weaker dollar on Tuesday, as forecast-beating British industry data cemented expectations that the Bank of England will raise interest rates for the first time in over a decade at its next policy meeting in November.
Construction spotlight turns on Birmingham
Construction companies and professionals descended on Birmingham this week for the industry’s biggest trade show.
CITB secures future after industry backs levy
The CITB has secured its future for the next three years after the majority of the industry voted to continue with its training levy past next April.
Talking heads: Support is out there for construction workers
As has been seen in CN’s Mind Matters campaign, the construction industry is starting to talk about mental health and the published statistics have certainly been shocking.