Pressing green light on ‘key projects will improve output’, firm adds
Mace has said its tender price forecasts for the UK and London are again unchanged.
The firm said the figure nationally was standing at 2.5% for 2024 and 3% for 2025 and 2026. The figures for London also remain at 2%, 2.5% and 3% respectively.
In its Q3 report, the firm said it was hoping to see “key projects approved and support a recovery in output”.
It added: “The pace of any growth though will be determined by policy support to encourage investment and the industry working collectively to foster a healthier balance of risk and reward.”
Mace Consult’s director of cost and commercial management for the UK and Europe, Oliver North, said: “The government has a number of levers at its disposal that it can use to expedite improving market conditions. Creating the right environment to attract investment and helping to solve labour shortages for example, will have the potential to have a significant impact on output.
“While economic conditions are heading in the right direction and new orders are increasing, contractors and their supply chain are still working through legacy issues and current risks which, as we’ve seen with the news of ISG entering administration, can carry significant human and financial cost.”
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