Month: October 2024

Construction at a ‘turning of the tide’ moment as labour supply crush looms

Construction clients for major projects are urged to ‘buy now’ rather than wait for more economic uncertainty or else risk having no bidders when they go to tender in an overheated market, in a report from cost consultants Core Five. A labour supply crush also looms, the report warns.

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Infrastructure taskforce holds inaugural meeting

The inaugural meeting of the new British Infrastructure Taskforce was convened by Chancellor of the Exchequer Rachel Reeves today (18 October), bringing together major financial companies and government in a bid to increase business confidence in making UK infrastructure investments.

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Rail suppliers say industry and investors want private finance in infrastructure provision

The High Speed Rail Group has added to a rising swell of organisations calling for government to consider expanding the role of private finance in funding infrastructure.

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Private finance could have role to play in NHS infrastructure, say health service leaders

Private finance could play a role in national health service capital investment if its drawbacks could be mitigated, says a discussion paper from the NHS Confederation. Despite the rising cost of PFI schemes they appear to offer better value for money than the recent New Hospitals Programme (NHP), once delays and overspend costs are accounted for, says the paper ‘Raising NHS capital funds: options for government’.

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Treasury Minister promises end to infrastructure ‘chaos’ of recent years

The Treasury has announced that a new National Infrastructure and Service Transformation Authority (NISTA) to replace the National Infrastructure Commission (NIC) and the Major Projects Authority (MPA) will be launched in Spring next year.

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Report identifies root causes of cost management failures on projects

Four root causes have been identified by the National Infrastructure Commission as being behind systemic failures of cost management on major infrastructure projects in a new report ‘Cost drivers of major infrastructure projects in the UK’.

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Procurement must embed ‘One Crisis” approach, says report

The Departments for Energy Security and Net Zero and Environment Farming and Rural Affairs must take a ‘One Crisis’ approach to tackle climate change, pollution and biodiversity loss, says the Environmental Industries Commission (EIC) in a report.

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New Towns construction to start in 2030, says Taskforce head

Locations of the government’s planned New Towns will be identified by summer 2025 but construction will not start before the next parliament, which could mean 2030, says the New Towns Taskforce chair Sir Michael Lyons.

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Mega-disrupters found to lie behind half of disputes worldwide

Five ‘mega-disrupters’ lie behind half of the disputes on construction projects internationally, according to analysis from professional services provider HKA.

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Poll reveals lack of confidence among industry professionals

Civil engineering costs will rise by 15% over the next five years to the second quarter of 2029, while civil engineering tender prices will rise by 23% over the same period, according to the latest Building Cost Information Service (BCIS) Tender price index.

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