The UK government has released an update for its construction pipeline, which is provided by Barbour ABI in order to help businesses prepare for planned government-spending streams. The construction pipeline is estimated at £127 billion-worth of investment to 2020. It has increased in value by 10% over the last six months. An investment of more than £12 billion on education construction and £11 billion on a nuclear waste management facility are among the projects included in the pipeline.
“The government is construction’s single largest client, providing over 40% of annual spend in the UK, therefore it’s imperative that this publicly funded money is accessible and outlined clearly, allowing businesses to plan around the many thousands of projects within the construction pipeline. Here at Barbour ABI, we collect and collate the pipeline on behalf of the Government, helping to keep the industry up to date with the many developments,” said Simon Mahoney, Managing Director of Barbour ABI.
“As part of this government's long-term economic plan we are publishing pipelines of future spending to help businesses across the country plan for and win contracts with government. We are providing businesses with exactly what they are asking for – up-to-date information in one central place about future government opportunities. This is helping British businesses to grow and innovate, and providing maximum value for taxpayers,” added Francis Maude, Minister for the Cabinet Office that published the data.
The latest figures from ONS revealed that UK construction output declined by 2% m/m but improved by 3.6% y/y in November 2014. The Markit/CIPS UK Construction Purchasing Mangers’ Index® came in at 57.6 in December 2014, down from November’s 59.4, as the pace of growth slowed.
Adapted from press release by Louise Fordham
Read the article online at: https://www.worldcement.com/europe-cis/19012015/uk-government-updates-construction-pipeline-159/