Confidence in the construction sector is at rock bottom. What construction firms badly need is a scheme that eliminates most of the risk associated with doing business.
I would like to see the government take the bold step of introducing a support programme for this sector similar to the export credit insurance scheme.
We already have the Export Credits Guarantee Department, which works with exporters, project sponsors, banks and buyers to help UK exporters of capital equipment and project-related goods and services by providing insurance against the risk of non-payment to UK exporters.
Why can’t this framework be employed to launch a similar scheme to help boost construction businesses in our country?
Surely an industry responsible for keeping so many people in work deserves support to keep it going.
Michael O’Connell, director, EOS