Government boost for construction sector29/11/2017
The Government and the construction industry have worked extensively since the launch of the Industrial Strategy green paper to agree the Sector Deal, with a particular focus on modernising the industry and on anticipating, and preparing to deal with, the inevitable challenges of Brexit. The Sector Deal is also aimed at improving the skills of current workers and will help to retrain existing workers, alongside a new National Retraining Scheme.
By transforming the sector through better adoption of digital and manufacturing technologies the Construction Sector Deal aims to deliver quality infrastructure and housing more quickly, at a reduced cost to the taxpayer. At the same time, the deal will improve the skills of construction workers and train the next generation of workers.
With £170 million of government investment over three years through the Industrial Strategy Challenge Fund, and £250 million of match funding from industry, the deal will bring together the construction, manufacturing, energy and digital sectors in a new hub to commercialise technologies capable of building assets which are both cost effective and energy efficient.
Business Secretary Greg Clark 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 8% of our GDP, and employ over 3.1 million workers."
He also stressed that the benefits of the programme will have a beneficial effect on individual workers, and not just the nation's economy.
"The Sector Deal we have announced today will see government and industry working together to support, invest and transform the construction sector, creating high-skilled and well-paying jobs, while delivering more housing for people across the country. The agreement embodies our vision for a modern Industrial Strategy, with government and industry working together in a strategic partnership towards the common goal of higher productivity, and a more skilled construction workforce with more earning power."