London construction work 'supports jobs in north-east'

London construction work 'supports jobs in north-east'

Construction activity in London understandably has a positive impact on the local economy, but people both inside and outside the industry may not have realised just how important it is to regions quite some distance from the city. A recent report by PricewaterhouseCoopers (PwC) and commissioned by London First found building work in the capital actually triggers a raft of benefits in the north-east of the country. In total, the boost enjoyed by the north-east is worth £12 million a year and includes 280 jobs, reports the Northern Echo. PwC looked at the direct and indirect impact of a variety of developments in London since 2008, as well as those that are due to be finished by 2016. It was discovered that London can have a wide-reaching effect on the UK economy. Baroness Jo Valentine, chief executive of London First, said: "The value of investment in London is huge in terms of generating jobs and economic benefits in London itself, but the knock-on contribution to regional economies is more impressive and shows the boost that London businesses provide to the rest of the UK." It seems that companies handing out construction jobs in London are actually having a hugely positive effect on the nation. For instance, 84 per cent of expenditure on central London office developments was found to remain in the UK. Marcus Robinson, partner at PwC Newcastle, said: "While it is no surprise that London benefits from office development, it is striking that further contribution to the regions is almost double with a significant part going to the north-east." In total, the construction of offices in London creates 34,600 jobs, with 22,400 of these held outside the city itself. This trade also adds some £1.7 billion of gross added value to the UK economy. With this in mind, the creation of construction jobs is not only vital in London, it could also be more important than many people realise to various parts of the UK, including the north-east.

Please rate

Comments 

Ctrl + Enter

Most Read

What To Look Forward to in the 4th Year of AMP6 and Beyond

What To Look Forward to in the 4th Year of AMP6 and Beyond

As we move into the 4th year of the 5-year cycle of AMP6, and with AMP7 on the horizon in 2020, the UK will continue to see a shift in focus to increasing efficiency and decreasing total expenditure for companies. In recent AMP periods, the focus lied in increasing value for customers (i.e.

Congratulations to Barhale on Their Recent Award

Congratulations to Barhale on Their Recent Award

At Anglo Technical Recruitment, we pride ourselves on aligning with best and the brightest individuals and organisations. We are honoured to work with Barhale, recent recipient of the New Civil Engineer 2017 ‘Specialist Tunnelling Project of the Year’ for the Elan Valley Aqueduct (EVA)

What Does Carillion’s Collapse Mean?

What Does Carillion’s Collapse Mean?

The ever burgeoning construction job market took a major hit with the announcement of the construction giant Carillion’s liquidation. Carillion, the second largest construction firm in the UK, also provides public services, facilities management, and maintenance through contracts with small

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.