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UK Government Releases Details on Updated Pipeline

The UK government recently released its latest update of the construction pipeline. Already worth £127 billion, official figures reveal that the pipeline has gone up in value over the last six months.

Provided by construction data specialists Barbour ABI, the pipeline is designed to help UK business prepare for scheduled government spending actions. It is updated twice a year, and constantly strives to extend its influence beyond the major construction spending divisions and improve data integrity.

Listed projects in this latest update include a nuclear waste management facility valued at £11 billion and £12 billion to be spent on education construction across the country.

A recent statement by Simon Mahoney, Barbour ABI’s managing director, indicated that the construction industry’s single biggest client in the UK government, which provides over 40% of the annual spend in the country. He said it was imperative that this publicly funded cash be both accessible and clearly outlined, enabling companies to plan their strategies around the projects in the construction pipeline. Barbour ABI collects and collates pipeline data on the Government’s behalf, keeping the industry informed about the several developments that continue to take place.

The data was published by Francis Maude, Minister for the Cabinet Office. He commented that the government’s long-term economic plan included publishing the pipelines of upcoming spending to assist businesses in preparing for and winning government contracts. This, he explained, is exactly what businesses are asking for: current and centrally located information about future government opportunities. Such details assist UK businesses with growth and innovation, and deliver high value to taxpayers.

Specialists in Construction Insurance

The government construction strategy is helping the industry be efficient and competitive in the global marketplace. Contractors need transparency when it comes to opportunities, and publishing up-to-date data in a single location enables them to start investing in and advancing their capabilities. This in turn creates a stronger economy.

In 2014, the government saved £1.2 billion overall, with £840 million being saved on construction projects (exceeding the target by 13%). The Department of Health realised a savings of £60 million, which is equal to the price of 67 new MRI scanners. On the education front, it is now possible to build seven schools at a cost previously required for five.

Barbour ABI is a leading provider of market data for building industry. In 2012 the group received a contract to collect, assemble, and publish the construction pipeline, which improves the transparency of the government’s future work plans. The Office for National Statistics also appointed Barbour ABI to supply data on Construction New Orders, which is an important indicator of the UK building industry’s economic health. These statistics, which are supplied on a quarterly basis, advise the government on how many construction jobs have been awarded across the country.

In addition to market data, Barbour ABI provides industry professionals with Landscape, a free tool that allows them to see changes in important market sectors. Landscape can monitor changes in future workloads and spot upcoming opportunities.

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