72% of construction firms have not planned for impact of Brexit - survey
There could be delays to housing and infrastructure projects over the next decade in the event of a no-deal Brexit, according to a new survey.
The construction industry has warned of increasing costs and skills shortages in the event of Britain crashing out of the EU.
A survey of Construction Industry Federation members has found that 72% of firms have not done any planning for the potential impact of Brexit.
Four in 10 believe it will have an "immediate negative impact" on their business, while 80% believe that the cost of materials will increase after a no-deal Brexit.
Other problems envisaged by CIF members include concerns over sourcing talent post-Brexit, supply-chain issues and the cost of doing business.
“Many companies were already struggling with increasing input and labour costs with minimal cost recovery and Brexit, if no plans are in place, will add to the costs,” said director general Tom Parlon.
"Delays in the delivery of materials also have the potential to lead to penalties and additional costs that contractors and their subcontractors could struggle to address," he said.
