Monday, 15 December 2014

What factors are underpinning investment in the Construction Products Industry?

A new study by the Construction Products Association has been published to help understand the economic, political and regulatory landscape facing the industry. 

The key findings in this report suggest how industry and government can work better together to develop policies that give greater certainty and confidence to industry to encourage investment, innovation and growth.

You can download the report here.

Summary of the key findings include:

  • Effective regulations are clearly defined, target-driven and not prescriptive.
  • Industry needs policy and regulation that is simple with minimal administrative burden.
  • Policy works best when government consults industry early and regularly to identify problems, review measures, provide solutions and evaluate results.
  • Government can create greater certainty for industry by providing a roadmap with a long term plan – not just over five-year parliamentary cycles – and clear goals which allow time for industry to prepare. 
  • Once the roadmap is implemented, unplanned changes should be avoided.  Delivery according to the original plan is key.  Consistency of policy helps industry to invest.
  • Cross-party consensus should be sought in advance for policies which are key drivers in major markets (e.g., infrastructure and housing), to prevent changes occurring due to party politics.
Industry also needs to demonstrate leadership and play its part in helping develop effective policy and regulation. We can do this by working together to establish a consensus and:
  • Speaking as a supply chain with a consistent voice to government.
  • Providing government with high-level, outcome-focussed, strategic input which avoids commercial differences.
  • Supporting well-considered, effective regulations with credible, practical solutions that are fact and evidence-based.
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