Following the overwhelming rejection of Theresa May’s Brexit deal in Parliament, there is now real concern amongst infrastructure clients that continued uncertainty will cause long-term damage to the sector. These concerns are heightened given that delays are starting to creep into major infrastructure projects such as HS2, the Wylfa nuclear power station, and Heathrow.
In business, time kills a deal. And in the Infrastructure/Construction sectors this is even more true! With delays surrounding certain infrastructure projects, a large number of construction businesses will be unable to maintain the level of resources they’ll need over the next 25 years. This will llead to restructuring, and may cause them to have to let some capability go. Based on experience, we know that this will create very real problems in the future. Once talented individuals leave a sector to pursue other opportunities, it can be very difficult to entice them back. So what happens between now and the 29th March (and the months beyond)will be critical.