How the government can restore confidence and stimulate growth

By Thomas Vandecasteele 2022-11-01T06:00:00

Rishi Sunak’s election and his appointment of a new Cabinet provides an opportunity for the implementation of long-term solutions to benefit our industry

Following months of political and economic turmoil – on both a domestic and global scale – the UK construction sector requires stability and certainty from the new government to restore investor confidence and enable projects to go ahead. With last week’s appointment of Rishi Sunak as prime minister comes hope that the government will prioritise supply-side policies to address the issues faced by many industries. Construction in the UK is no different.

During Liz Truss’ short-lived tenure, the government’s focus was said to be on “growth, growth, growth”. It was supported by demand-side policies such as tax cuts and changes to stamp duty, but little in the way of supply-side initiatives accompanied this mantra.

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