CIOB figures show construction’s ‘true value’
New figures from a report by the Chartered Institute of Buildings (CIOB), titled ‘Real Face of Construction 2020’ have revealed that the construction industry may account for up to 6 per cent of the UK’s economy, almost double estimates from the Office for National Statistics (ONS).
Caroline Gumble, chief executive of the CIOB, said, “Our purpose for this report is to help educate policymakers about the true value of the built environment and the need to work in closer partnership with the industry to realise its full potential, particularly at a regional level where it can rebalance local economies and offer people a quality career unlike many others.”
The report took account of all aspects of the design and construction process, rather than only assembly on site, to compile the figures.
The full report can be read here.