Self-employed contractors and consultants working in industries such as IT and engineering should benefit from investment in the construction industry, a new study has claimed.
Research conducted by LEK Consulting, on behalf of Confederation of British Industry (CBI) and the UK Contractors Group, showed that every Â£1 spent on construction leads to a growth of Â£2.84 in GDP.
Construction is a driver of growth across a range of different industries including technology and IT due to its reliance on an extended and varied supply chain.
John Cridland, CBI deputy-director general, said: “With the Chancellor’s Pre-Budget Report looming, the CBI is continuing to press the case for protecting capital spending by government.
“This timely report outlines the essential relationship between the construction sector and other parts of the economy, as well as its important contribution to numerous other social and economic objectives, including regional development and employment.”
Recent figures from the Office for National Statistics revealed that GDP fell by 0.4 per cent during the third quarter of 2009.