As we step into 2025, the pipeline of work awaiting the UK construction industry looks good enough. Our new government has promised that it will encourage more development – not just in house-building but also infrastructure.
Interestingly, Labour’s idea of essential infrastructure focuses on stuff like renewable energy schemes – onshore wind and solar farms and power lines – rather than new roads.
Many people doubt the ability of the industry to meet these challenges, however. House-builders are already struggling, as we explain on page 20 of this issue. Rising mortgage rates, cost inflation and the planning hold-ups (which this government has pledged to tackle) have held them back.
They’re not making as much money as they used to, and they’re certainly not building enough new homes.
Perhaps the biggest problem facing construction firms is still a chronic lack of skilled workers. It’s hard to see how we can build 1.5 million homes in the next five years when so many employers are struggling to recruit. It’s not for want of trying, as our special six-page feature starting on page 36 makes clear.
But it’s not all doom and gloom. In this issue we also examine two projects that promise to help tackle the climate crisis – including one that could shrink the cement industry’s massive carbon footprint. Now that really is something to look forward to.