Summary and implications
Any assessment of the impact of Brexit requires a degree of
crystal ball gazing: its impact is very uncertain and will remain
so for years. Brexit's effect on the construction industry (as
with the wider economy) will depend, amongst other things, on
whether the UK retains access to the single market, the nature of
any new trade deals negotiated, immigration policies, interest
rates, government borrowing costs and sterling's volatility. In
spite of (and because of) these uncertainties, we have highlighted
some key considerations for the construction industry.
Procurement
Critics of the EU often cite its red tape as an inhibitor of
business. EU procurement law is particularly criticised for its
cumbersome lack of flexibility, which requires contracts to be
subjected to a competitive tender process, even when an awarding
body has legitimate reasons for wanting to work with a particular
party.
