The Minister for Public Expenditure and Reform, Michael McGrath T.D., has today, Thursday, 14th July, published the Build 2022 report.
The construction sector has faced significant challenges over the course of the last two years related to COVID-19 restrictions, subsequent inflationary pressures associated with pent-up demand as economic activity rebounded and the Russian invasion of Ukraine, and supply chain disruptions. Due to the Russian invasion of Ukraine, significant increases in the prices of both fuel and energy have been observed this year. As a result, energy costs associated with construction have increased.
These challenges are likely to remain for the remainder of 2022. Project Ireland 2040 necessitates a competitive, dynamic and sustainable construction sector capable of delivering new social, economic and climate resilient infrastructure. To achieve this outcome, we must continue to foster an innovative and sustainable construction sector environment.
This Build 2022 report, through its analysis of the available data and information, gathered from relevant stakeholders in the construction and built environment, has outlined a number of key findings in the area of costs, skills, productivity, sustainability, investment, and output. The challenges and risks facing the construction sector are also highlighted, including a number of initiatives being taken by the private and the public sector in order to increase skills, productivity and sustainability.
Minister McGrath, praised the report saying that:
“It contributes to the evidence base to inform Government and the construction sector on the performance of the construction sector at a crucial time”.
The Minister also added that the interviews and case studies with key stakeholders of the industry shows the collaboration between the private and public sector, which is vital to delivering on the priorities outlined in the National Development Plan 2021 – 2030.
