We are delighted with the Government’s announcement of £170 million investment in transforming our sector through the Industrial Strategy Challenge Fund. The money will go towards supporting innovation and productivity improvement across the construction sector, this long been at the heart of the Constructing Excellence agenda and we whole heartedly support the initiative. We look forward to working with the CLC and other partners to provide the performance measurement framework, showcasing of exemplars, and connections into the wider industry networks.
“The government and the construction sector, through the Construction Leadership Council, have agreed a Sector Deal to transform the productivity of the sector benefiting the wider economy.
Construction is one of the largest sectors in the UK economy – with a turnover of £370 billion, contributing £138 billion in value added to the UK economy and employing 3.1 million people (9% of the total UK workforce).
The deal will substantially boost the sector’s productivity, through greater investment in innovation and skills, creating new and well-paid jobs and maximising its export potential. This will also reduce the environmental impact, improve the efficiency and reduce whole life cost of new projects and buildings to help build the houses, schools, hospitals and major transport projects we need.”
Other initiatives linked to the strategy include:
- Investments in technical education and STEM skills
- A £64 million National Retraining Scheme for digital and construction training
- £31 billion increase in the National Productivity Investment Fund supporting investment in transport, housing and infrastructure
- A £1.7 billion transforming cities fund for intra-city transport
We look forward to further detail emerging on the Construction Sector Deal and stand ready to support the implementation of this transformative initiative for our industry.