Economic stability must be a priority for 2023 Spring Budget urges APM

Greater economic and political stability is needed to ensure the successful delivery of projects in the UK, Association for Project Management (APM) has found.

Ahead of the Spring Budget, due to be announced by Chancellor Jeremy Hunt on 15 March, APM has called on the Government to factor the concerns of project professionals into its economic plans.

This year’s Budget will take place against a background of high inflation and economic uncertainty, together with the current cost of living crisis in the UK.

[edit] Poll indicates concern

Ahead of the Budget, APM carried out a poll (conducted by research company Censuswide) of 100 senior project professionals, each working on projects across government policies including transformation and service delivery, Levelling Up, infrastructure and net zero, to get a sense of the profession’s levels of concerns.

The poll’s findings indicate general concern among project and programme professionals with regards to the economy, the labour market and supply chain issues in the UK.

The majority (91%) of project professionals polled say they are concerned about the impact of ongoing economic instability on their main project. Of these, 58% say they are very concerned and a third (33%) say they are somewhat concerned.

[edit] Supply chains

The impact of supply chain issues on project/s are also a source of worry, with 92% expressing a level of concern – over half (52%) of project professionals say they’re somewhat concerned, and 40% say they are very concerned about the current situation of supply issues in the UK.

The poll also highlights concerns over shortages in the UK labour market, with a total of 87% expressing concerns – 45% who say they are somewhat concerned and 42% who are very concerned. Just 13% say they have few concerns or no concerns about labour shortages and its impact on their project.

In total, 88% of people surveyed said their main project was aligned to at least one government policy, making the success of these projects crucial to the Government’s ability to deliver these policies. Nearly half (45%) said their project was linked to transformation and service delivery, and a third (33%) said their main project was linked to the Levelling Up programme.

[edit] Comment

Andrew Baldwin, Head of Public Affairs at APM says: “We know an environment of stability and certainty is vital to ensure the successful delivery of projects – especially those that are supporting government initiatives. This survey is a demonstration of that.

“We urge the Government to focus this year’s budget on delivering economic stability and certainty. Projects across the country need both to deliver their benefits.”

This article appears on the APM news site as 'Economic stability must be a priority in Spring Budget so projects can succeed, APM urges Government' dated March 15, 2023

--Association for Project Management

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