Contributors
Following the Chancellor's spending review on 11 June, Ian Atkinson, partner at Womble Bond Dickinson, said:
"The construction industry stands to benefit significantly from Chancellor Rachel Reeves' Spending Review today, which promised substantial investment with a focus on growth and jobs. We saw significant sums committed to defence (£11bn), nuclear investment (£30bn), training and apprenticeships (£1.2bn a year), social and affordable housing (£39bn), local transport projects (£15bn), a new Growth Mission Fund for local projects important to growth, fixing schools (£2.3bn a year plus more for rebuilding them), and much more.
"We expect this surge in investment to drive demand over the next few years for construction services, materials, and skilled labour, creating significant opportunities for the construction industry, and benefitting communities across the country.
"However, the industry must also take this opportunity to improve practices and innovate to deliver sustainable and high-quality projects – and to finally build up a resilient skilled workforce, which has been a challenge for the industry for many years."
