The Government has published plans detailing billions of pounds worth of proposed construction projects, in partnership with construction intelligence specialist Barbour ABI.
At the Government Construction Summit held on 2 July, the Rt Hon Vince Cable MP, Secretary of State for Business, Innovation and Skills, announced that the pipeline of future Government construction opportunities is £116 billion. The information, collated by Barbour ABI, reveals upcoming public projects, with the intention of providing firms of all sizes the forward notice and information they need to invest in the relevant skills, labour and capabilities to win contracts.
Lead economist at Barbour ABI, Michael Dall, said: “These latest figures represent a huge boost to the UK construction industry.”
He added: “Hopefully the Government pipeline will help to increase optimism across the industry, which was strongest towards the end of 2013 when output rose at its fastest rate for more than six years. Plans of new projects and significant spend in the infrastructure sector should help to dispel concerns that the industry is becoming too reliant on the housing sector.
“We must also not forget the recent reports of skills shortages affecting the construction industry. With construction jobs accounting for 10 per cent of total employment in the UK, addressing these supply-side constraints is crucial to ensure the long-term health of the industry going forward,” Mr Dall said.
The Government Construction Pipeline can be found at: www.uk-cip.org.uk