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Deloitte comment on Autumn Statement and construction

5 December 2012

Commenting on the impact of the Autumn Statement on the construction industry, Jack Kelly, head of Deloitte’s contractors group, said:

"The contractor industry has generally welcomed the Chancellor’s Autumn Statement with its commitment to investment in infrastructure, including transportation, education and housing, efficient procurement and reduced bidding timescales.

"It appears that all the prerequisites for investment are being put in place. This will undoubtedly bring renewed confidence to an industry that has been struggling over the last year with falling order books and a number of administrations.

"The transparency announced should also assist an industry that is looking to retain its skilled workforce and whose biggest risk at present is the financial position of its supply chain. However, that investment has to start soon. The economic benefit of infrastructure investment is well documented, but that investment has not been forthcoming. It is needed now. Too many companies have failed because they have made pricing and employment decisions based on the belief that growth will return in a constantly moving fourth quarter."

 

Ends

Notes to editors:

About Deloitte
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.

Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.

The information contained in this press release is correct at the time of going to press.

Member of Deloitte Touche Tohmatsu Limited.

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