Investment of £150m to benefit construction SMEs

Published:  17 September, 2013

There is to be £150m invested in the UK construction sector over the next five years, according to the Department for Business, Innovation & Skills and Technology Strategy Board.

There is to be £150m invested in the UK construction sector over the next five years, according to the Department for Business, Innovation & Skills and Technology Strategy Board.

“This new investment in the construction sector is a welcome boost and will provide much-needed support to businesses,” said John Thompson, chief executive of the Association of Plumbing & Heating Contractors. “We do have some reservations about what organisations will receive funds, how the investment will be delivered, and how SMEs will be able to access this investment support.

“We would also reinforce the need for government to adequately address payment arrangements to subcontractors as part of the initiative, as payment arrangements for many SMEs is still often a major barrier to contracting for work.

"We look forward to further details of how this scheme will work.”

For more details on this investment programme and future plans, visit: https://www.gov.uk/government/news/150-million-investment-will-help-transform-uk-construction-sector.