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UK GDP Figures Reaction | Simon Harris, Avrenim and Sean Keyes, Sutcliffe

In light of recent news about the UK GDP figures, Simon Harris, CEO of Avrenim, one of the country’s leading Facilities Management companies and Sean Keyes CEO of leading Structural and Civil Engineering Firm Sutcliffe share their take on the latest developments.

Simon Harris, CEO of Avrenim commented on the UK GDP Figures: 

“After a long period of uncertainty, to see an increase in GDP can only be positive for both the local and national economy. At Avrenim, given the breadth of our service offering coupled with our long-term projects, we are constantly monitoring the trends of the market to enable us to make informed decisions about our operations and how it impacts the client. 

“From a facilities management perspective (as FM is circa 3% of GDP), we are seeing more businesses turn to a formal hybrid, and more office-based approach since the end of the pandemic, coupled with an increase in GDP, this allows businesses to expand their operations, vastly increasing the demand for forward-thinking cohesive spaces to work from. 

“With an increase of 0.6%, I welcome that the country is now coming out of its recession, I look forward to upcoming announcements from the UK Government on how it will look to use this positive economic uplift for initiatives aimed at achieving vital net zero targets, increased spend on public services,  investment in both new hospitals and effectively maintaining current sites (NHS Estate Backlog is circa £13 Billion) and supporting the increased demands placed on our education sector.”

Sean Keyes, CEO of Sutcliffe

Sean Keyes, CEO of Sutcliffe said:

“While the recent 0.6% increase in GDP is a positive development, it’s crucial to recognise the ongoing challenges in the housing sector. Despite economic growth, many prospective homebuyers continue to face affordability issues, clearly demonstrating the ongoing cost of living crisis. This is heightened by the fact that only 210,000 homes were built across the UK last year, falling short of the national requirement by 90,000.

As we navigate this landscape, with 7% of the UK’s GDP coming from construction, it’s important to use the resources generated from its growth to address the housing crisis directly. This could involve implementing targeted policies, such as affordable housing subsidies, incentivising developers to build more affordable units, or investing in sustainable housing infrastructure. Alongside this, we must prioritise long-term solutions that promote access to housing for all, including marginalised communities.

By leveraging economic growth to tackle the root causes of the housing crisis, we can work towards ensuring that everyone has access to quality and sustainable housing. This not only strengthens our economy but also creates a sense of community spirit.”

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