SNIPEF welcomes CICV Forum report
SNIPEF, the Scottish plumbing and heating association, has welcomed an in-depth report published by the Construction Industry Coronavirus (CICV) Forum aimed at helping public bodies make decisions on where public funding in construction gives the highest economic returns to help support a green recovery.
The report, commissioned by the Forum from the Fraser of Allander Institute at the University of Strathclyde, will improve understanding of how investment in construction activity creates multiplier effects socially, economically, and environmentally, while also aiming to support policy makers, clients and investors in understanding the return on investment associated with repair and maintenance activity.
Fiona Hodgson, Chief Executive of SNIPEF, said: “This is a very valuable report which highlights that investment in construction, including repairs and improvements, can play a vital role in a green recovery. It also emphasises the important role Scotland’s existing buildings have in that recovery."
“We will look to highlight this report to the Scottish Government and funding bodies to assist in maximising the economic and carbon benefits of investment in the built environment.”
The report highlights that the construction sector is an important contributor to the Scottish economy, supporting almost £16bn in Scottish GVA and almost 300,000 full-time equivalent jobs through direct, indirect and induced economic activity.
The report also reveals that every million pounds spent on specialised construction activities, including repairs and improvements, generates £1.09m GVA return to the Scottish economy and supports 21 full-time equivalent jobs.
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