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Construction is “biggest boost” to UK economy

The construction industry generates a greater increase in GDP per £1 spent than almost any other sector, according to a report released last week.

Every £1 of spending in the industry produces a £2.84 increase in GDP, according to research by economists LEK. This is even more than agriculture and cars.

The research was commissioned by the UK Contractors Group and backed by the CBI, both of which intend to use the findings to push for the next government to commit to capital spending in construction to stimulate the industry and the wider economy.

The report, Construction in the UK Economy, says that construction is one of the best ways of boosting the economy in the short and long term, responsible for almost £30bn of demand in other sectors each year. It has been hit worse than any other sector by redundancies.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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