The government has struck a Sector Deal with the construction industry in a bid to modernise the sector, recruit and train more highly skilled employees and boost the economy by billions through the delivery of better homes and infrastructure.
The deal was announced in the industrial Strategy white paper on November 27th, with the aim being to prepare the sector for the future by helping firms build better-performing buildings at a greater speed and lower costs. It also intends to support the government’s programmes in infrastructure and housing. Better adoption of digital and manufacturing technologies will help to transform the sector.
Greg Clark, business secretary, said: “Our construction industry makes a vital contribution to the UK economy and is one of our most important sectors, with businesses that add £138 billion a year to the economy, contribute eight per cent of our GDP, and employ over 3.1 million workers.”
Chair of the Construction Leadership Council Andrew Wolstenholme added that this represents a “golden opportunity” to boost the economy through improved productivity levels and more efficient building of assets, as well as creating well paid jobs across the UK and pushing up exports on a global scale.
The Industrial Strategy Challenge Fund will invest £725 million in new programmes in order to really put the focus on innovation. Other Sector Deals will be made available to the artificial intelligence, automotive and life sciences industries, as well as construction.
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