Tuesday, 10 September 2013

£150m Boost for Construction Industry

The UK's construction industry is set to receive a government-backed investment of up to £150m over the next five years.
Funding is to be provided to help reduce construction times, improve quality and make buildings more efficient.
A total of £60m is to be invested through the Technology Strategy Board to support the industry in designing and developing more energy efficient buildings.
The projects are expected to leverage in an additional £60m of industry investment and £30m extra funding across government and other agencies.
Business secretary Vince Cable said: "The UK's new and existing buildings must adjust to a low carbon economy. Investing in energy efficient construction projects is important to help industry and government achieve our aims of reducing greenhouse gas emissions by 50 per cent by 2025. I therefore warmly welcome the Technology Strategy Board's investment of £60m in energy efficient technology alongside the private sector.
"The construction industry contributes almost £90bn to the UK economy and supports around 3 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.
"The future direct economic benefits of this investment are expected to be more than £1.5bn and three quarters of the organisations supported are small businesses with fewer than 250 staff."
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