In 2013, the HM Government published the ‘Construction 2025’ report, laying out plans and goals for the UK construction industry to achieve by 2025. It’s a 78-page report that goes into every detail of the 12-year plan. Sound interesting?
It may not sound like the most enthusiastic read, but luckily, we’re all mad about construction at Full Metal Finance, so we’ve analysed and condensed it into a digestible article just for you.
What are the goals and plans?
The report details five areas of development that would benefit the construction industry the most, those being:
This plan will come from two areas. The first is to change the industry’s perception in the public eye, as it currently has the reputation of being lazy and slow.
The second is to improve our British construction labour force through training and creating higher standards. These points work hand in hand, as more skilled labour will create a better reputation, and a better reputation will bring in more competent workers. The government believes a reasonable goal is to lower the average time to complete a construction project by 50%.
‘Smart,’ or technology, is self-explanatory. The government plans to invest more in research and development to create a more efficient and advanced industry. The report notes that the goal is to reduce the overall cost of construction by 33%.
Sustainable construction will emerge from the use of greener materials and processes. Innovation is vital for this to happen. So, the sustainability plan relies heavily on the ‘smart’ plan. The government’s goal for sustainability is to reduce construction-related greenhouse gas emissions by 50%.
Growth is an ambiguous term. In this case, the report refers to both the growth of the UK macroeconomy, through more exports and fewer imports, and that of the local economy to overcome the challenges from the forecasted rise in population (water, transport, power, etc.).
The goal here is a 50% cutback in the 2013 trade gap (the gap between the number of imports versus exports).
The leadership plan is in place to help implement these goals, working with the Construction Leadership Council (CLC) to achieve the four goals above.
Are we on track?
In short, no. This comes down to several factors:
– It’s the UK. The government has been setting construction goals like this since 1934 at the Construction Industry Reports with little success.
– Climate change fears have been rising, with the Climate Change Act now being taken more seriously. The act looks to achieve a carbon net zero by 2050, so governments are dedicating more of their attention to achieving this while forgetting about previous goals.
– The COVID-19 outbreak brought the UK economy (and almost all economies) to a standstill. Covid caused a setback for all of the UK’s objectives, not just Construction 2025’s.
Hope is not all lost!
Robotics and Artificial Intelligence are predicted to become some of the most dominant tools in construction soon. It is still unknown whether that is before 2025, but it will happen. With the help of these tools, the construction industry will not only be able to meet the goals set in Construction 2025 but may improve way beyond our wildest imaginations.
What does this mean for you?
Technological advancements can be pretty intimidating, especially as they can change an entire industry overnight (precisely what happened when smartphones came into the world). What we have seen is companies that have money, or are at least willing to spend it to stay competitive, are the ones that survive.
At Full Metal Finance, we’re here to take some of that stress off your shoulders. New technology can be costly to pay in full, so we’ve pledged to keep up with the industry’s technological changes and provide affordable financial solutions.
But why wait? Prepare your company for these future changes by building your enterprise now. Get in touch with us today to see how we can help you build your dream.