The Construction Products Association’s economics team has analysed the government’s ‘Spending Review 2020’ released today.  As expected, the focus of the announcement has primarily been on aiding the recovery from the virus and furthering support for public services.  Compared to strong statements from government earlier in the year around “build, build, build”, we have much less to go on today.

That said, with our forecasts showing that infrastructure will be one of the few bright spots for UK construction in the coming year, we are pleased to finally see that government has listened to the CPA and that the National Infrastructure Strategy has some of the detail we’ve long been calling for around the government’s project plans, funding and the path to net-zero.  Together with the spring 2021 launch of a new National Infrastructure Bank, we have reason to be encouraged that government is taking real steps, beyond simple headlines, in delivering an infrastructure sector that truly underpins UK construction and the wider economy.”

Announcements relevant to construction and manufacturing are summarised here (FIS members only).