Addressing an audience of more than 80 Parliamentarians and 150 construction industry leaders, civil servants and journalists at the House of Commons yesterday, Bill Bolsover, the Chairman of the Construction Products Association, identified the construction industry as a key driver of economic growth and suggested ways in which government should kick start the recovery.
Bill Bolsover said:
‘Government must stick to its spending plans, but rebalance the economy between current and capital spending. Government’s own figures show current expenditure rising from £632bn this year to £694bn in 2014/15, whilst capital spending is being cut from £61bn to £42bn over the same period. Rebalancing this could make way for the £5 billion package of essential infrastructure investment which is being widely talked about.’
The Association’s Chairman also emphasised it was industry that would deliver the economic recovery and that the role of construction would be crucial in achieving this. But he said:
‘Politicians must remember that many major construction product manufacturers and suppliers are no longer UK companies so had a choice of where to put their investment. The signals government sends on its reform of the planning system; on the way it decides to support energy intensive industries; and on its carbon reduction measures are of concern to a world-wide audience of potential investors in the UK essential to our economic recovery.’
The Construction Products Association represents UK’s manufacturers and suppliers of construction products, components and fittings. The sector has an annual turnover of £50 billion and accounts for 40% of total construction output.