Post election, what is next for UK Constuction?

UK Constuction skyline

Congratulations to Keir Starmer and the Labour Party on winning a landslide victory in last week’s general election. I am convinced that we are at a watershed and glad to hear all the talk being about “change”, something I think we badly need. At the start of their term in government, Keir Starmer and Rachel Reeves are saying the right things regarding new housing targets (300,000 per annum), improving the planning system to unlock housing and infrastructure development and economic growth. And I note that Mark Allen Chief Executive of Landsec, has spoken approvingly of their first few days in office in a post-election BBC interview.

As well as that, the Glenigan Construction Industry Forecast 2024-2026, along with several other leading industry commentators, has noted that “the clear Labour majority following an early election call should dispel political uncertainty that could have persisted for much of this year and should help lift investor confidence in the second half of 2024” - encouraging words.

But it’s a tough road ahead for the new government, especially in our industry. Construction growth has been revised down by Glenigan from 8% to 3% for 2024 .

Following the election, Eddie Tuttle, Director for Policy, External and Research at the CIOB said “The Construction Sector is reliant on stability, and we urge the Labour Government to ensure consistency and longevity with policy making and its communications with industry”.

I would certainly echo this sentiment. After a period of economic instability and the impact this has had, the construction industry, including the building facades sector, desperately needs a period of with good stable conditions. We need to complete the vital work of rebuilding our infrastructure including façade remediation projects, which are so urgently needed to release leaseholders from the flammable cladding trap.