Today we will see the opening of Parliament and the King’s Speech. A state occasion in which the new Labour Government will set out its agenda for the coming parliament.

One of its main pillars is the plan to build 1.5m new homes over the next five years. Given the chronic problems in the housing market, it is this particular policy that will have ramifications for the entire economy, as well as the fenestration sector.

Finding a way

During the election campaign, parties of all colours came out with pledges to build hundreds of thousands of new homes per year. They ranged from 300k to 400k per year depending on the party. On the face of it, these numbers all sound great and would be able to take the breaks off the housing market.

But what I have not heard yet from the new government is how they intend to tackle the skills shortage that is plaguing every trade connected to the construction sector. As we are well aware in our own sector, we are short of skilled workers by the thousands, if not tens of thousands. Qualified and quality installers and fabricators are becoming harder and harder to find, with apprenticeships not being able to fill the gaps being left by those leaving the sector or retiring.

As a whole, the construction sector is short of skilled workers, around 230,000, although the true number is likely higher than that. We can come up with as many targets and dream up all sorts of numbers all day long when it comes to building new houses, but if we do not have the right people to actually build them, then these targets are pointless.

Labour plans to shake up planning reforms with the intention of increasing the number of applications passed and getting more housing plots into the building pipeline. By streamlining the planning process, the supply of houses could indeed increase, but again, who is going to be on hand to build them. It’s all well and good being able to say that hundreds of thousands more new homes have been granted permission to be built, but we have to have the people available to actually get them built.

What I hope is that as the new Labour government beds in, they begin to understand the more fundamental problems that lie in the housing market and address them properly. If they don’t, then they will quickly find that they will start to miss those targets and election pledges.

Huge benefits

Should Labour be able to solve the skills problems and make the right reforms to planning, then there is a lot of upside potential.

First, there is the obvious boost that 1.5m extra homes will provide. That means a lot more windows and doors would need to be produced and installed. Good news for the installers that deal with new-build housing and the fabricators that will need to be on hand to make said windows and doors. The reality would be millions more frames per year being produced which would provide a significant boost to the fenestration sector.

Second is the overall housing market itself. If Labour is able to get more homes into the overall supply chain, this will naturally lead to more people being able to move house more freely. And we know that when people move, they also spend on home improvements. So building more homes, in turn, will lead to more home improvement work throughout the existing housing stock.

Third is the overall boost to the UK economy. Our economy does well when we are building well. Housing and construction are major drivers behind GDP growth in this country. The building of 1.5m new homes will provide a significant jolt to growth over the coming new parliament, and that in itself can cultivate better consumer confidence and spending.

I genuinely hope Labour can turn this creaking market around. It would benefit all trades connected to construction, including the fenestration sector. But in order to get this off the ground they are going to have to solve the skills crisis, and so far, I am yet to see any concrete plans to address it.

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