With the UK in recession, according to the latest ONS Economic Performance Data for Q4 2023, now is the time for the Government to boost construction work to kickstart the economic recovery, says the Federation of Master Builders (FMB).
Brian Berry, chief executive of the FMB said: “The worsening economic picture reflects what has been happening in the construction industry for many months. Quarterly construction output was down 1.3% in Q4 2023, compared with Q3, while monthly output for December decreased by 0.5%. If the Government is serious about growing the economy, as one of the Prime Minister’s key pledges for the country, we must get the UK building.
“The continued decrease in new work, propped up by growth in Repair, Maintenance, and Improvement (RMI) sector, is a trend which we have seen throughout 2023, and must be rectified if the UK hopes to see long-term sustainable growth going forward. The country is facing a housing crisis, and we need to see vast numbers of new homes built if we are to tackle it. The Housing Secretary’s announcement this week on brownfield development could be promising, but the Government must be ambitious to ensure we deliver quality, diverse housing at pace.”
www.fmb.org.uk
