July 2012
Featured in this insight: Central government & non-department public bodies, Construction
Construction sector survey reveals no improvement despite government input: A new survey by the Royal Institute of Chartered Surveyors (RICS) has demonstrated that despite the Government attempting to give the construction sector a boost through new investment, UK infrastructure projects have not improved in the second quarter of 2012.
The RICS market research found that 4% more respondents within Britain’s construction industry have reported a decline rather than an increase in workloads, indicating a continued low level of activity across the entire sector.
Overall, the RICS have confirmed that infrastructure construction workloads covering the amount of new and existing projects across the UK have remained flat during the three months to end June. In fact, the industry has seen little movement since the end of 2009.
This news comes despite Chancellor George Osborne announcing last year November that there are plans to raise £20 billion from pension funds to invest in government projects such as high-speed rail lines and power stations.
Chief Economist at RICS, Simon Rubinsohn, commented: "More action to back up the (Government’s) rhetoric is urgently needed if the construction industry is to play a meaningful role in driving the economy forward over the next few years."
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