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State of the UK construction industry - Essay Example
Engineering and Construction
Pages 16 (4016 words)
State of United Kingdom Construction Industry Introduction In recent years the construction industry in the United Kingdom has come to one of its lowest points ever. Current estimates of the pace of growth indicate that the construction industry in Great Britain is not set to grow until the year 2014…
These changes in growth of the construction industry in United Kingdom point to long term stagnation and possible shrinking of the industry. While the global financial crisis has been blamed far and wide for these drops in performance across many industries but it must be realised that industrial shortcomings have also contributed to these changes. The current situation is unlike but comparable to stagnation in the construction industry in the past. The previous periods of stagnation and negative growth in the construction industry required government impetus to crawl out of their problems. However, this time around governmental support seems to be unlikely to drive growth in the construction industry. The government has already announced a 20% cut in the capital expenditure over a period of four years but this has failed to attract the attention of the private sector. In turn this has exacerbated the situation on ground. The structural gaps in the construction industry in the United Kingdom need to be looked into in order to find workable solutions. This must be explored in a historical perspective as well in order to discern the previous attempts at resolving issues. These could be taken as guidelines in order to see how the construction industry in United Kingdom is expected to perform in the future. ...