According to the latest insight from Glenigan, there are growing expectations that this year’s Autumn Statement will see the Government release additional funds for capital projects as it seeks to counter the current post-Brexit turbulence and to shape its longer term strategy for the UK economy. Glenigan project data reveals a growing pipeline of public sector projects that could be early beneficiaries of additional government funds.
Glenigan has tracked a strengthen in the value of underlying projects gaining planning consent over the last 18 months in key public funded areas such as infrastructure, social housing and education. Many of these projects will be close to ‘shovel-ready’ and a more relaxed funding regime could accelerate their transition to work on site.
The infrastructure sector has seen the sharpest turnaround, with the value of underlying projects (excluding schemes of £100m or more) clearing planning during the January to July 69% up on a year ago.
However education and social housing have also seen strong growth, rising by 24% and 31% respectively, while the more modest rise in health and community & amenity planning approvals is building on earlier growth during 2015.