Richard Steer is Chair of Gleeds Worldwide

In light of the Chancellor’s recent Spending Review, which outlines significant investments in health, defence, and infrastructure, Richard Steer, Chair of Gleeds Worldwide, has shared his perspective on how these decisions intersect with the construction sector’s current challenges and opportunities.

“The latest Spending Review sends a clear message that infrastructure remains at the heart of the government’s economic growth strategy, but it is a long-term ambition, not a short-term fix. We welcome the continued investment in transport, education, and energy transition projects as well as housing.

These commitments offer much-needed stability and the opportunity to plan long-term — it also gives significant opportunities for both public and private sector collaboration.

As ever, the devil is in the detail, and labour shortages could derail housing targets, but £1.2bn in enhanced training funding is welcome.

If the government creates the right vibe, investors may well see the UK as a safe haven in choppy seas, as long as it does not saddle business with further tax hikes & employment challenges.”

This measured response from Richard Steer reflects a broader industry sentiment—cautious optimism balanced with realism.

While the government’s commitment to infrastructure and skills funding is welcomed, the successful delivery of these plans will depend on clarity, execution, and a supportive business environment. As the sector awaits further detail, collaboration between public and private stakeholders will be key to turning these ambitions into tangible outcomes.