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Galliford Try Chief Executive gives Sky News his autumn statement verdict

Thursday, 24 November 2016 @ 02:33

Peter Truscott, Chief Executive of Galliford Try plc, gave his verdict on the government’s Autumn Statement to Sky News business reporter Ian King on Wednesday.

Speaking at the offices of Columbia Threadneedle in the City of London, Peter gave a cautious welcome to the announcements made in the statement, particularly in relation to boosts for transport infrastructure and affordable housing.

“(The Chancellor) has little room to play with, but he’s played those cards fairly well,” Peter told Sky News.

“In infrastructure … I think the signal is that we’re going to be spending more money over a longer period of time, so that plays very well into the business we have.”

Galliford Try’s Infrastructure business is a delivery partner for Highways England’s Smart Motorways programme, currently building a £302 million project on the M1 in Northamptonshire with joint venture partner Costain. In Scotland, Galliford Try’s Scottish business Morrison Construction is part of the consortium delivering the £550 million Aberdeen Western Peripheral Road.

Peter was also keen to stress that despite direct support for the housebuilding sector, the increases in funding announced for affordable housing by the Chancellor, Phillip Hammond MP, would also be welcomed by the business, with regeneration specialist Galliford Try Partnerships potentially a beneficiary from a focus on increasing the mix of tenures being built.

“I really like the step away from just home ownership and also looking at other forms of tenure and particularly rent,” Peter said. “The signal that the affordable housing fund is going to be for other sorts of tenure as against just shared ownership has got to be good for the wider economy.”