Impact of brexit on the construction industry

The cross-party group of parliamentarians points out the perfect storm of an ageing workforce and more people leaving the industry than entering it which is creating a skills crisis even without Brexit. There are nearlypeople from the EU working in the UK which we cannot afford to lose, it says.

Impact of brexit on the construction industry

Making accurate predictions for the forthcoming months is proving difficult. Whilst the UK finalises a deal to leave the EU more than two years after the Brexit referendum, questions remain unanswered about how this step into the unknown will affect the construction industry.

Having the right insurance to protect and mitigate against all potential risks is becoming increasingly important. The biggest risks and concerns around Brexit in the construction industry The effect of new migration controls on low skilled works Although there are currently no deals in place, the UK has communicated intent to restrict the number of low-skilled workers allowed into the country to work post-Brexit.

That percentage rises to 40 per cent in London. Mark Herbert of Construction Insure said recently: The main worry for UK construction firms is that instead of using foreign workers they will start having to increase their costs by training up UK workers. They are also likely to have an increased wage burden as they are forced to use higher skilled UK contractors to plug the gap.

This valuable human resource is at risk of dissipating following Brexit. Using more sub-contractors can also result in greater risks for businesses. Greater complications and increased costs when dealing with EU clients There is uncertainty over the value of the pound and the cost of imports and exports after Brexit— especially if supply chains are impacted by costs and delays.

This could lead to reduced supply and spiralling prices. A related threat to construction safety If contractors opt to use cheaper, lower-standard materials this may also have implications for worker safety and the overall quality of builds.

Delays in the supply chain would further exacerbate this. A need to exit the UK In some cases, businesses should be prepared for job losses or changes to headquarters.

In the financial sector, for instance, recent reports have suggested that some corporations are moving out of the UK to bases in Frankfurt and Paris. This could drive up costs for talent mobility. How to reduce risk Having the right insurance policies in place is vital to reduce and mitigate risk, regardless of the outcome post March 29, Adequate Professional Indemnity Insurance is particularly important.

It is likely that the insurance industry will also be affected by Brexit. Current policies mostly require construction projects and professionals to be insured with insurers operating in the EU. Post Brexit construction firms will have to ensure that their insurer is functioning within the UK.What impact (if any) will Brexit have on the regulation to which UK transport companies are subject in the field of environmental or health and safety?

Impact of brexit on the construction industry

Aviation If the UK remained a member of the ECAA, as mentioned above it would be required to accept EU laws in these areas. Navigate to another country site. Brazil ; Chile ; Colombia ; Ecuador ; Finland ; Germany ; Hong Kong ; India ; Indonesia. The impact of Brexit on procurement regulations in the UK By Building Radar July 21, Construction Data, Construction industry market research 2 Comments.

Brexit: The impact on construction. The upcoming EU referendum looms large but what effect is it having on UK developments right now and what would a Brexit mean for the industry?

Research from the Construction Industry Training Board (CITB) shows that the number of construction employers feeling the impact of Brexit has increased by 9 per cent compared with last year. Brexit: The impact on construction. The upcoming EU referendum looms large but what effect is it having on UK developments right now and what would a Brexit mean for the industry? Oct 11,  · New figures for Sky News show Brexit might already be having a big impact on our housebuilding industry. Ian spoke to Deputy Chief Executive of the Construction .

Mar 10,  · The session outlines potential impact of Brexit on the built environment and UK regulation as well as discusses further European collaboration on standards development in the industry.

The UK’s decision to leave the European Union will have far-reaching effects on the country’s construction equipment industry. These are discussed in detail in a new page special report from Off-Highway Research, The Impact of Brexit on the UK Construction Equipment Industry.

Brexit: The effects of leaving the EU on the UK construction industry