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Contractors vital to recovery

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According to international consulting firm McKinsey, contractors are a ‘vital component’ in taking the UK back to prosperity. The organisation states that the UK’s productivity lags well behind the USA and Germany, and that this issue must be addressed by building a flexible workforce that better aligns skills with industry need, whilst at the same time investing in infrastructure and removing regulatory barriers. To this end, McKinsey has created a plan that recommends seven actions to achieve what it refers to as a ‘move from near-term austerity to long-term prosperity’. This plan advocates unlocking infrastructure investment, requiring huge sums to be poured into the UK’s transport and energy infrastructure, which would in turn provide a long term and growing source of contracts for engineering, construction and energy contractors – plus those that support them, such as IT contractors.

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