Dave Neilson 21 January 2018
In November the Government launched a whitepaper as part of its plans to prepare the UK economy for life after the European Union. The Industrial Strategy aims to boost the economy, improve productivity and embrace new technologies to make the UK the world’s most innovative economy.
The Industrial Strategy and the construction industry
The construction industry employs 3.1 million people and is one of the largest sectors in the economy with a turnover of £370bn. Fusion21 is committed to tackling issues affecting the sector such as unemployment and the skills shortage. The Industrial Strategy is designed to address these and other issues.
Some key areas covered by the strategy regarding construction and procurement are listed below:
The Industrial Strategy and public procurement
The UK spends 14 % of GDP on public sector procurement, and the public sector spends around £270bn a year on goods, works and services.
The strategy outlines plans to use public procurement as an important source of finance for innovative businesses, stating: “The essential role played by infrastructure means our investment decisions can have a transformational effect on places businesses and society. We will maximise the contribution that such investment can make to growth and productivity by strengthening considerations of broad strategic outcomes at the earliest stage of policy… and then carrying them through all subsequent parts of the design and procurement process.”
The government also wants to improve procurement standards by extending the Commercial Capability Development Programme; a scheme to improve commercial skills in the public sector to arm’s length bodies.
For more information on the industrial strategy click here or to find out how we are helping to tackle unemployment and the skills shortage in the construction industry, read our Community Regeneration Services brochure or call us on 0845 308 2321.