Here are a few interesting points from the chancellor’s budget, which may affect labour market and skills demands. We take a look at The Budget – Careers: construction, automotive, teaching and artificial intelligence.
Some key points from the budget:
£44bn in Government support to boost construction skills
This budget announcement sits alongside the government commitment to build 300,000 new homes in England.
The UK construction industry is facing a series of challenges – from a shortage of young people understanding and being drawn to working in the industry, to technological developments such as BIM software which need people working in the industry to embrace and develop new ways of working.
We anticipate that educationalists and industry bodies will welcome the financial boost.
Find out about construction careers here
£540m to support growth in electric cars (£40m for research into electric car charging)
The development of electric cars, both hybrid and fully electric, like the development of automated vehicles will create a need for a workforce with a new set of skills.
If we are to replace diesel and petrol cars with electric vehicles, then there is a lot of work to be done and that means increased demand in the automotive industry.
Read about developments in the automotive industry
£500m for 5G mobile networks, fibre broadband and artificial intelligence
Any development in telecommunications will lead to a need for people working in the industry and the money for artificial intelligence (or machine learning) is interesting. AI is an area of development that will have an impact in many industry areas and broadly speaking, careers in AI will include programmers, engineers, psychologists, lawyers and philosophy / ethics graduates too. This is an exciting careers area to watch.
Read about careers in artificial intelligence
£84m to recruit 8,000 new computer science teachers
The UK needs lots more STEM teachers generally but computer science has been highlighted as a particularly weak area with some schools and colleges opting not to offer computer science because they lack the teaching staff with the necessary skills to deliver the subject.