Brexit would hit construction for years to come, says Hill chief

Hill chief executive Andy Hill and Great Portland Estates head of projects James Pellatt are the latest big industry names to sign up to Building’s remain in the EU campaign, Building Says In, ahead of next month’s crucial referendum.

Building has come out in support of staying in the EU, after results of an exclusive survey of 1,300 construction professionals earlier this month showed two-thirds’ support for staying in.

An open letter has also been launched alongside the campaign, setting out construction’s case for remaining and the potential risks of a Brexit, backed by major businesses including Mace, Mott MacDonald
and JLL.

Hill and Pellatt were joined this week by several other new signatories, including Steven Barker, chairman of consultant Robinson Low Francis and Richard Saxon, former BDP chairman and founder of the Consultancy for the Built Environment.

Signing in an individual capacity, Andy Hill, head of housebuilder Hill, said a Brexit would have “severe consequences” for the housing industry and the economy as a whole.

Hill – which posted a 69% jump in pre-tax profit to £31m and record revenue of £304m in recent results for 2015 – has a target of trebling turnover to £850m and delivering 2,500 homes a year by 2020. Hill said the firm’s targets could be “hugely impacted” by a Brexit.

He added: “As Europe’s largest powerhouse, our economy is very much strengthened by our position within the EU […] exiting this arrangement will likely result in a largescale slowdown that I believe will take many years to recover from.”

Elsewhere on the campaign trail, chancellor George Osborne warned that Britain would face a year-long “DIY recession” if it left the EU, while NHS England chief executive Simon Stevens said a Brexit could be “very dangerous” for the health service.