{"id":68030,"date":"2019-11-25T11:11:05","date_gmt":"2019-11-25T11:11:05","guid":{"rendered":"https:\/\/www.pbctoday.co.uk\/news\/?p=68030"},"modified":"2019-11-25T11:11:05","modified_gmt":"2019-11-25T11:11:05","slug":"rd-spend-construction-sector","status":"publish","type":"post","link":"https:\/\/www.pbctoday.co.uk\/news\/planning-construction-news\/rd-spend-construction-sector\/68030\/","title":{"rendered":"MMC helps UK construction sector hit \u00a3351m R&D spending"},"content":{"rendered":"

The latest ONS data has revealed a record high of\u00a0\u00a3351m in research and development (R&D) spending for the UK construction sector<\/h2>\n

Analysis by R&D tax relief specialist,\u00a0Catax<\/a>,\u00a0shows the total amount spent on R&D by businesses in the UK construction sector rose\u00a0by 9.7%\u00a0<\/strong>annually. This amounted to a rise of\u00a0\u00a331m\u00a0<\/strong>year on year, according to the ONS statistics\u00a0for 2018.<\/p>\n

Catax believes this is partly due to increased interest in Modern Methods of Construction<\/a> (MMC), an area that is soaking up huge resources as the country seeks to become a world leader in offsite construction.<\/p>\n

The amount that UK businesses across all sectors have invested in R&D continues to grow, rising \u00a31.4bn to \u00a325bn in 2018 \u2014 up 5.8%.<\/p>\n

Manufacturing was associated with \u00a316.3bn of R&D spending, up 4.7%, but pharmaceuticals remained the biggest product group with \u00a34.5bn of R&D spending, up 3.3%.<\/p>\n

The largest percentage increase in R&D spending, climbing 25.4% to\u00a0\u00a3947m, was in the telecoms sector.<\/p>\n

The number of staff employed by UK businesses also continued to grow, rising 7.3% annually to exceed 250,000 full-time equivalents for the first time.<\/p>\n

Mark Tighe, chief executive of R&D tax relief specialists Catax, said: \u201cThe construction sector is a huge employer in this country but contributes a relatively small amount to the UK total of R&D spending.<\/p>\n

\u201cHowever, the sector is experiencing some interesting changes, not least the rapid growth of\u00a0offsite construction<\/a> methods. This is likely to be a contributing factor behind this large jump in overall R&D spending last year.<\/p>\n

\u201cMore broadly, this is the second full year that Brexit<\/a> Britain has shrugged off the political poison after the EU referendum and posted great gains in terms of R&D investment, running head and shoulders above the long-term average.<\/p>\n

\u201cThe rate at which UK businesses are adding R&D staff to the workforce remains impressive, virtually matching the previous year with a rise of 7.3%.\u201d<\/p>\n

\n<\/div>","protected":false},"excerpt":{"rendered":"

The latest ONS data has revealed a record high of\u00a0\u00a3351m in research and development (R&D) spending for the UK construction sector.<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[304],"tags":[676,908,283,916,696,273],"stakeholder_rel_tag":[],"contributor_rel_tag":[],"class_list":{"0":"post-68030","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-planning-construction-news","7":"tag-construction","8":"tag-economy","9":"tag-finance","10":"tag-modern-methods-of-construction","11":"tag-offsite-construction","12":"tag-research-innovation"},"acf":[],"yoast_head":"\nMMC helps UK construction sector hit \u00a3351m R&D 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