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UK construction industry lifted by £150 million investment

11 September 2013 No Comment

The UK construction industry has plenty of reasons to celebrate following the announcement of a £150 million funding package to reduce construction times and make buildings more energy efficient.

The bulk of the investment comes from Britain’s Technology Strategy Board, which has put forward £60 million to support the designing and developing of eco-friendly buildings.

man holding yellow helmet

A further £60 million is expected to come from key industry figures, while an extra £30 million will be delivered from across government and other agencies.

Target to reduce greenhouse gas emissions by 50 per cent by 2025

Freshbusinessthinking.com says £83 million of funding from the Technology Strategy board has already been used to aid the construction of low carbon buildings and develop new energy efficient designs.

This has helped the government edge even closer to its target of reducing greenhouse gas emissions by 50 per cent by 2025.

Talking at gov.uk, Mr Cable said both new and existing buildings will have to adapt to the “low carbon economy”, especially given that £1.5 billion has been made off the back of the board’s £83 million investment. He added:

“The construction industry contributes almost £90 billion to the UK economy and supports around three million jobs. We are well placed to take advantage of new and emerging energy efficient technologies, commercialise them and then export them across the world.”

Author: Richard Towey   Date Written: 09 September 2013

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