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Government to invest £150m in construction

Government to invest £150m in construction
The UK's construction industry is to benefit from a massive cash injection from the government, which will help build on the successes already achieved.

Over the next five years, the Department for Business Innovation & Skills, is to release £150 million, earmarked specifically for the construction sector.

This will go a long way to improving quality, reducing the amount of time it takes to develop buildings and ensuring that energy efficiency is at the heart of all projects.

Vince Cable, business secretary, said that the last point is important. There is a need for all new and existing buildings to "adjust" to a low carbon economy, which will go a long way in helping the planet and making everyone more environmentally friendly and conscious.

"Investing in energy efficient construction projects is important to help industry and government achieve our aims of reducing greenhouse gas emissions by 50 per cent by 2025", he expanded.

"I therefore warmly welcome the Technology Strategy Board’s investment of £60 million in energy efficient technology alongside the private sector."

Mr Cable went on to highlight the financial power of the construction industry, stating that it contributes a massive £90 billion to the UK economy. This, in turn, supports approximately three million jobs.

"We are well placed to take advantage of new and emerging energy efficient technologies, commercialise them and then export them across the world," he concluded.

David Bott, director of innovation programmes at the Technology Strategy Board, added that the government had set itself an extremely challenging target of an 80 per cent reduction in the UK's greenhouse gasses by 2050.

This, he said, can only be done with "innovation on a grand scale" and already it is evident that the country is making headway with its green commitments.

Mr Bott said: "We’ve been astounded by the enthusiasm with which the projects we’ve funded, through our Low Impact Buildings Innovation Platform, have grasped that challenge.

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Date: 09/09/2013 16:01:00

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