General Election causes frustration
Author: Ross STurley CIMCIG
The result of the General Election has caused some frustration in the industry, with the prospect of a hung parliament putting projects at risk
THere is concern that some large infrastructure projects - like expansion at Heathrow, or HS2, might be delayed or abandoned altogether. Housebuilders shares fell on the result, as it is thought it will affect market confidence, and therefore sales, leading to a slowdown in site starts.
Dr Diana Montgomery, Chief Executive of the CPA, commented today: “From a business perspective, this is frustrating. We need certainty and clarity in order to address the serious challenges and opportunities facing UK construction over the next few years. First and foremost of which is the prompt delivery of the government’s National Infrastructure and Construction Pipeline, which if delivered we believe will attract investment in UK based manufacturing. Government also has a leadership role in fixing its own procurement by using its ‘balanced scorecard’ approach to procure best value for government projects and using policy levers to address skills and housing shortages and the costs of energy and business rates to business. It’s still early days and we will, of course, be ready to work with the new government and help find solutions, but I fear we’re now facing a period of greater instability at a critical time for our industry.”