Labour’s Victory Marks a New Era for Construction Industry and Growth
July 5, 2024
Following the Labour Party’s victory in the 2024 General Election. The National Federation of Builders (NFB) provides expert insights and analysis on what this significant political shift will mean for the construction industry with several key implications for the construction industry. Labour’s manifesto entitled ‘Change’ has a strong emphasis on growth, planning reform, and partnership with businesses, which sets a promising foundation for development for the construction industry under a new Labour Government.
Labour’s manifesto promises an immediate update to the National Planning Policy Framework (NPPF), 1.5 million homes over the next parliament, restore mandatory housing targets, and ensure local authorities have up to date local plans. These measures are expected to streamline the planning process and reduce delays.
A commitment from Labour to maintain and renew the road network, embed public and active travel, and launch significant infrastructure projects, such as Great British Energy, could generate new opportunities for construction companies.
Reforms to procurement rules to better favour SMEs, along with actions on late payments and easier access to capital, would provide much-needed support to SMEs within the construction industry.
Richard Beresford, Chief Executive of the National Federation of Builders (NFB), said:
“After the NFB’s decade long commitment to lobbying government for planning reform, Labour’s recognition of the impacts of a broken planning system is encouraging, and its commitment to fixing the planning system and drive growth through strategic reform is a positive step for our industry. If these promises are fulfilled we can look ahead to more homes, better infrastructure, and stronger businesses.”
Rico Wojtulewicz, Head of Policy and Market Insight at the NFB, said:
“Although planning reform, infrastructure development, and support for SMEs is welcomed, there is a precedent of such plans facing setbacks. The Labour Party must, therefore, provide reassurance that these reforms will be implemented successfully and without delay.”
The Labour Party manifesto raised some concerns over the lack of specific details on essential policy positions, for example, the grey area around promoting biodiversity and tackling pollution. What the construction industry now needs as we transition to a Labour Government, is clarity, detailed policy plans, and realistic timelines on the outcome of these proposed reforms.
The Labour Party now has a unique opportunity to demonstrate its commitment to the growth of our industry. Only time will tell how these policy commitments may come into fruition, however the NFB remains dedicated to working hard to collaborate with the Labour Party on policies that will shape the future of the construction industry, ensuring that our sector remains a top priority for the UK’s economic growth and development.”
You May Also Enjoy
Industry reacts as Landlords to be hit with N.I tax
The Government is considering a major change to the way landlords are taxed, with Chancellor Rachel Reeves weighing up plans to apply National Insurance (NI) contributions to rental income as part of her upcoming Autumn Budget. Currently, rental income is subject to income tax but not NI. However, by expanding NI to cover this additional…
Read More 
Brits Are Flocking to Australia in 2025
The end of summer is always a busy time for international moves, and 2025 is no exception. So far this year, the number of people planning to move abroad has risen by 11% compared to the first half of 2024, according to Compare My Move. What’s changed is where Brits are choosing to go. Australia…
Read More 
UK reports rising property market momentum
eXp UK reports rising property market momentum as sellers return and more sales are agreed The latest internal data from eXp UK has revealed that housing market momentum is continuing to build, with more homes coming to market and a greater number of sales being agreed. eXp UK analysis is based on the firm’s own…
Read More 
Homes priced too high take twice as long to sell warns Zoopla
House price growth stabilises over summer months House price growth has slowed over recent months, although this slowdown looks to have stabilised with average house prices 1.3 per cent higher than a year ago Sales agreed are up five per cent on last year, although speculation on possible tax changes may impact homes valued at…
Read More 
Why September is the Most Expensive Month for Your Boiler
As households prepare to switch their boilers back on after summer, heating engineers are warning that September is often the most expensive month of the year for boiler breakdowns, repairs, and inefficiency. Rob Jones, heating engineer at UK Radiators, explains: “After months of being idle, boilers are suddenly put under pressure when temperatures drop in…
Read More 
What AI Can and Can’t Fix in Block Management
By Robert Poole, Director – Block Management, Glide Property Management, part of LRG In an industry increasingly shaped by regulation, rising expectations and squeezed margins, the promise of AI and automation in block management is understandably appealing. The idea of freeing property managers from repetitive tasks, improving compliance, and streamlining communication offers significant operational value.…
Read More