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
Insurance Broker’s Top Tips to Avoid Home Insurance Claims
Every homeowner wants to do what they can to avoid unnecessary insurance claims, especially if you have a high-risk property, holiday home or home you rent out to others. For homeowners, insurance claims can mean hefty hikes in insurance prices in the future, and for landlords or holiday homeowners, the loss of earnings while a…
Read More 
7 ways to pay off your mortgage faster in 2025
Paying off your mortgage gives you the personal and financial security of owning your home outright, and you no longer have the monthly cost of repaying your lender. Sarah Thompson, Managing Director of Mortgage Scout explains seven things you can do that should help you get there quicker: Consult an independent, regulated financial adviser If…
Read More 
Rightmove’s weekly mortgage tracker – 05/02/25
Average rates for 2-year and 5-year fixed-rate mortgages Term Average rate Weekly change Yearly change 2-year fixed 4.98% -0.04% +0.01% 5-year fixed 4.78% -0.03% +0.14% These rates are provided by Podium and are an average based on 95% of the mortgage market. All rates are based on products with a circa £999 fee. Lowest rates…
Read More
February & March are the best months to list a home for sale
February and March are the best months to list a home for sale, based on the likelihood the home goes on to successfully complete, closely followed by April and January Nearly seven in 10 homes (66.3%) listed for sale in February and March since 2012 go on to complete the sale, the joint-highest months of…
Read More 
The Cost of Replacing a Wooden Garage Door in Seattle
The replacement of a wooden garage door might be a very expensive affair for homeowners in Seattle. Adding beauty and durability, the wooden garage door installation in Seattle gives a touch of character and worth to your home. The most important factor that is to be kept in mind is the estimation of the cost…
Read More 
The Benefits of Repainting Your Interiors
Repainting your home’s interior is a simple yet powerful way to refresh and revitalize your living space. Whether you’re looking to update outdated colors, boost your home’s value, or create a more inviting atmosphere, a fresh coat of paint can make a significant difference. In this article, we will explore the numerous benefits of repainting…
Read More