The “Industrial Strategy: Construction Sector Deal” released by the government in 2018 outlines a number of actions that are being put in place to support the construction sector.
Already 6% of GDP comes directly from the construction sector, something that the UK government acknowledges and plans to grow.
Learn more about the deal and the government’s plans below.
The “Industrial Strategy: Construction Sector Deal”
The deal between the UK government and the construction sector sets out a joint vision on how both will collaborate to tackle challenges in the future.
Moving forward, the government intends to work with “the wider construction sector to strengthen the supply chain for mineral and construction products across the whole of the UK.”
The “Constructing the Future Survey 2018/19”, collated by BiP Solutions and Construction Excellence, states that this deal will support construction companies to “build better-performing buildings and infrastructure at a greater speed and reduced cost, while supporting the government’s ambitious programmes in both infrastructure and housing.”
Key policies from the deal include:
- The investment of £725m in new Industrial Strategy Challenge Fund programmes “to capture the value of innovation”
- Increase research and development (R&D) investment to 2.4 per cent of GDP by 2027
- The creation of a “National Retraining Scheme” that supports people to re-skill, beginning with a £64m investment for digital and construction training
- The launch of further Sector Deals in areas such as life sciences, artificial intelligence and the automotive sector.
International Construction Plans
The UK government not only has domestic plans for growth but wants to establish the country as a global leader. As part of this strategy, the government plans to increase exports of UK construction products and services. The Construction Sector Deal document states that the government plans to develop “an international and export strategy linked to the strategic objectives of the Sector Deal during 2018.”
Opportunities in the construction sector 2019
The UK government’s commitment to the sector creates industrial opportunities and construction tenders for suppliers in the UK and across the world.
If you would like to gain visibility of these opportunities, learn more about how business intelligence can help you to win Commercial Tenders.
May 07, 2019.