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
Five businesses expelled by The Property Ombudsman
Three estate agents and two letting agents have been expelled from The Property Ombudsman for failing to pay compensation awards to consumers. Prime Property Agents on Clarendon Street, Nottingham, failed to refund a buyer’s £7,200 reservation fee after a purchase fell through. The agent did not follow their own terms and conditions, failing to present…
Read More 
Live, Invest, Explore: London and Dubai for the Modern Property Buyer
In today’s globalised world, property buying is no longer confined to one’s home country. Modern investors are seeking destinations that combine strong real estate potential with a rich lifestyle experience—places where they can live, travel, and grow their wealth. Two cities continue to dominate the list of international property buyers: London and Dubai. Whether you’re…
Read More 
The impact of Trump on the UK property market
By Kevin Shaw, National Sales Managing Director, Leaders (an LRG company) The property market tends to thrive when the economy is strong and stable. Historically, economic uncertainty has negatively impacted house buying and selling, as people tend not to make big life changes and new investments when job security, the cost of living and political…
Read More 
Breaking Property News 16/06/25
Daily bite-sized proptech and property news in partnership with Proptech-X. Solving property asset compliance and maintenance issues How Symple transformed property management for the SME Group At SME Group, managing a varied portfolio of residential and commercial properties requires precision, compliance, and operational efficiency. As the Repairs, Maintenance & Compliance Coordinator, ensuring that all properties…
Read More 
The counties rivalling London’s prestigious housing market
England’s biggest postcode house price premiums New research from Yopa, the full-service estate agents, reveals that Northumberland, the West Midlands, and County Durham are home to some of England’s biggest postcode house price premiums, beating out competition from a number of the nation’s most luxurious markets including those found in Surrey and Buckinghamshire. Yopa has…
Read More 
Renters frustrated by delays and paperwork, but agents unfairly blamed
The latest analysis by Dwelly, one of the UK’s leading lettings acquisition and success planning experts, has found that almost a third of renters rate the process of finding a rental property as average at best, with the laborious process of completing paperwork and poor communication from letting agents ranking as the biggest pain points.…
Read More