A partnership between the UK government and the construction industry was announced last week by Business and Energy Secretary, Greg Clark, in a move that will see £420 million invested into technologies for the construction sector. The Sector Deal aims to significantly improve the productivity levels within the industry.
Aptly named ‘bytes and mortar’ the deal will focus on using digital design and offsite manufacturing to aid the construction industry, making the construction of buildings a much quicker, healthier and safer process, resulting in affordable homes that are more energy efficient.
This deal comes at a very appropriate time, due to countless high-profile construction projects and initiatives due to take place over the coming years. These projects include, the government’s plans for 1.5 million new homes by 2022, Crossrail and the third runway at Heathrow Airport.
Outlining the Sector Deal, Greg Clark, has stated that this will be the biggest investment in the construction sector for a decade, with the hopes that it will ultimately spur economic growth and create new skilled jobs across the UK.
A government whitepaper published on 5th July outlined ambitions for the Sector Deal, which include:
- Buildings built more quickly and at a lower cost
- Reduced energy use and lower bills
- Better jobs and increased apprenticeships
- Value for tax payers
- A globally-competitive construction sector
Alongside this the government has also unveiled estimates on what these ambitions will mean for the UK as a whole:
- 33% reduction in construction costs
- 50% reduction in greenhouse gas emissions
- 50% reduction in time spent on builds (from inception to completion)
- 50% reduction in trade gap between exports and imports
Here at Exchequer Solutions, we are excited to see the Sector Deal come to fruition. Particularly with regards to the impact it will have on contractors working in the construction industry as this will ultimately mean that their productivity improves as well as opportunities to further their career.
Read more about the Construction Sector Deal here.
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