Construction has landed one of the latest round of sector deals worth up to £250m to the industry.
The deal was confirmed when Business Secretary Greg Clark unveiled the government’s Industrial Strategy plans.
Construction was one of 11 industrial sector left in the race for deals.
The other successful sectors are life sciences, artificial intelligence and automotive.
Clark said: “In this Industrial Strategy we set out how we will maintain and enhance these and other strengths and deploy them to our advantage.
“But any serious strategy should address the weaknesses that stop us achieving our potential, as well as our strengths, and this Industrial Strategy does that.
.gif)
“Britain’s productivity performance has not been good enough, and is holding back our earning power as a country.
“So this Industrial Strategy deliberately strengthens the 5 foundations of productivity: ideas, people, infrastructure, business environment and places.”
Government statement on the construction sector deal
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.
