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Building Costs Aimed at Being Cut By 20%

April 1st, 2011 4 comments

All public infrastructure and construction costs will now be slashed by twenty percent; this is according to the UK government. George Osborn, Chancellor stated in the budget plan that building costs were being recalculated in order to achieve the type of savings that could assist construction firms across the UK. This new growth plan entitled, ‘The Plan for Growth’ has said that the government will reform the methods which were used in the past for the procurement construction and infrastructure materials – standardisation will become the new benchmark as bespoke designs are cutting deeply into the pockets of the construction firms.

He continued by saying that they are in the process of readying the new models of procurement as well as other measures for public sector construction – costs will be reduced by twenty percent and other added benefits will be included; this is still to be defined in the full report which will be published in May of 2011. By the closing quarter of last year, the treasury department has stated that they could save over three billion pounds per year on all infrastructure development as procurement processes were improved. This plan is over five years in the making and a blueprint for cost savings has been established by the government’s construction sector.

So lace up your safety boots and prepare your company for an unbelievable level of savings which will be passed on directly to the companies themselves. Infrastructure UK (IUK) released a report which again outlined how costs such as maintaining energy, transporting waste and overall building management could be reduced. This survey was based on expert opinions from the construction industry, those who would be most affected by decreased building costs. The report closes by indicating that the construction companies are quick to welcome any improvements from the client side of the business.

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