New CBI report on financial health of construction industry calls on contractors and clients to fix the business basics.
The construction industry is a vital part of the UK economy. New research conducted for this CBI report shows that every £1 spent on UK construction creates £2.92 of value to the UK. The industry employs 2.3 million people directly – supporting over 3 million more indirectly – and construction activity contributes 6% of GVA.
There is a huge opportunity to build on this, making this vital industry more productive, more efficient and more environmentally friendly. A more productive industry has the potential to deliver £30bn more in output every year. To do so requires investment. Yet with average margins at the industry’s largest firms in the red, and construction routinely suffering more insolvencies than any other sector, the money needed is hard to find.
In investigating why the operating environment is so precarious, the CBI Construction Council has looked at the role that risk allocation plays in the f
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