Construction Built Environment PPT 3 Flashcards

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Contribution to the UK economy

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The construction industry employs 2.3 million people and accounts for 6% of the UK's economic output.

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Healthy Economy

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A healthy economy is achieved when growth, unemployment, and inflation are in balance.

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Potential Negative Outcomes

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Without a healthy economy, a nation’s citizens can experience a range of potential negative outcomes in society.

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Projects nationally generate tax revenues.

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Individuals working in the industry pay tax on their income. Businesses and contractors pay taxes as sole traders or corporate bodies.

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Spending power of those employed in the industry.

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Earnings spent on living expenses and disposable income spending benefits retail and leisure businesses. Business tax revenues contribute to local and national economies.

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Support of manufacturing supply lines.

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Suppliers and manufacturing businesses generate taxable profits. Their employees pay tax on income and spending.

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Investors in construction companies.

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Investors with public limited company status receive taxable returns on their investment.

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Image of a wallet

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Represents financial aspects related to construction developments and tax revenues.

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Area regeneration projects offer increased employment opportunities.

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These projects lead to the generation of tax revenues and individual spending power, enhancing property values locally and beyond.

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Increased leisure spending attracts visitor spending power.

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Health and wellbeing improvements can increase worker productivity, and entertainment and leisure businesses increase taxable profits.