SPONSORED BY HEALTH SECTOR NEWS
Over £6 billion in new NHS funding in 2020 Budget
Measures announced by the Chancellor of the Exchequer, Rishi Sunak (pictured), in the 2020 Budget on 12 March included over £6 billion in new funding to support the NHS, including to create 50 million more GP surgery appointments, to ensure that there are 50,000 more nurses, and to ‘fund wider commitments’ on hospital car parking and support for people with learning disabilities and autism.
The Chancellor said the NHS Settlement provided ‘the largest cash increase in public services since the Second World War – an additional £33.9 bn per year by 2024’, The Budget
also committed an investment of over £100 m in 2020-21 ‘to make progress on the 40 new hospital projects announced as part of the Health Infrastructure Plan’, and provided £683 m in additional funding to the Department of Health and Social Care ‘to protect the level of NHS operational capital investment’. With ensuring good succession planning and the future of the engineering workforce – where the UK is seeing major skills gaps – widely seen as critical, there will also be a £120 m allocation for up to eight new Institutes of Technology, and £7 m for 11 ‘maths schools’, so that students can access high
quality STEM provision ‘everywhere’. Other measures announced include:
n A Green Heat Networks scheme to encourage new and existing heat networks to adopt low carbon heat sources, backed by £270 m in funding.
n £300 m in additional funding to improve air quality.
n A £9.2 m funding package to introduce ‘smart waste tracking’, and schemes to tackle fly-tipping more effectively.
McAvoy receives ‘multi-million pound’ private equity boost
The McAvoy Group, one of the UK and Ireland’s leading offsite manufacturers, has secured ‘multi-million-pound investment’ from London-based Blantyre Capital, to support its continued growth ‘in the very dynamic offsite sector’, and finance its ‘ambitious expansion programme’.
The McAvoy family – Orla Corr and Conor McAvoy – remain as shareholding directors, and fully active in the business. The current Board will continue to be led by MD, Mark Lowry, and will be joined by a director from Blantyre. Orla Corr OBE, shareholder and director, said, “We are extremely excited
to partner with a highly respected investment fund fully aligned with our vision for future growth and our strategic plan. It was important for our staff, customers, and valued supply chain, to join forces with a dynamic, reliable investor who will help accelerate our growth. “We have our strongest project pipeline
for many years, in a diverse range of sectors. Partnering with Blantyre will enable us to leverage industry-leading offsite solutions across the UK and Ireland, and to continue developing our award-winning digital construction strategy.”
Adam Phillips, head of Investments at Blantyre Capital, said, “The offsite sector offers enormous opportunities for transforming construction, and is a sector in which we are keen to invest. We are confident in McAvoy’s growth potential, and are looking forward to a highly successful and productive business partnership.”
April 2020 Health Estate Journal 15
©HM Treasury
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