Summer Economic Statement shows the Government is determined to get the economy into the recovery phase

However, the CPA say it is the delivery of these announcements that will be key.

The Construction Products Association has welcomed the Chancellor’s Summer Economic Statement as it showed that the Government is determined to get the economy into the recovery phase.

However, as ever, it is the delivery of these announcements that will be key.

CPA Economics Director, Professor Noble Francis, said: “The announcement of a Stamp Duty holiday until 31 March will help to give a sustained boost the housing market after a temporary flurry of housing market activity due to pent-up demand.

"It will be essential however to also see measures aimed at boosting house building, such as increasing the budget for the Affordable Homes Programme, as well as those aimed at boosting the housing market.

“The £2 billion funding towards energy efficient retrofit of the existing housing stock is potentially very promising; but the devil is in the detail, as the Government has previously demonstrated on energy efficient retrofit programmes, in particular given the very poor experience of the Green Deal policy.

"In addition, £1 billion for insulating public buildings sounds very good but given this is only for one year, it raises the key question of whether Government departments and local authorities have the time or resource to spend this effectively. The main risks are that the majority of this money ends up not getting used or that it gets wasted in a rush to spend it. ”