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Construction sector could be the catalyst to wider economic growth in the UK

With the construction industry employing more than 8% of the entire workforce across the country, it can play a key role in unlocking wider economic growth according to Arup’s Geoff Hunt.

    Despite the sector taking a massive hit at the start of the pandemic, it recovered quickly and is only set to grow, with jobs being created rapidly. Providing the combination of skills used in construction is maintained, the industry will continue to fuel the economic recovery in the future.

    Whilst construction might have to live with the uncertainty of local lockdowns and new restrictions this winter, there is confidence from leaders that they can keep the sector as resilient as it was before the pandemic.

    Business confidence could be boosted thanks to the Infrastructure and Projects Authority republishing the procurement pipeline every six months. For many employees, it’s likely to also have an impact on jobs and future skills needs.

    Even with the restrictions the industry is facing, there is still plenty that can be done now in the design and development phases. Starting this early is key to ensure the project isn’t delayed any more than it should be, meaning the sector doesn’t face a cliff edge with large gaps in procurement.

    So far, employees feel that the government has taken the right steps in seeing them through the pandemic, due to them introducing the furlough and job support schemes. This is the next step in recognising the contribution that construction can make in recovering the UK’s economy.

    For more information on our construction insurance, contact us today.

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