Brexit: UK construction costs have risen much more steeply than EU

The cost of materials and labour for construction have increased more steeply in the UK than the EU since the Brexit referendum, new research has found.

Analysis of data from EU member states, the central EU database, Eurostat, and the UK Department of Business, Energy and Industrial Strategy show that between 2015 and 2022 the cost of construction materials including cement, timber and steel increased by 60%.

At the same time the cost of labour in the UK went up by 30%.

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In the EU where similar pressures including supply chain and Covid problems applied, the cost of materials went up 35% while labour in countries such as Denmark and the Netherlands went up by just over 14%.

The UK Trade and Business Commission (UKTBC), an independent body of experts set up to track the impact of Brexit said the research will deepen growing concerns over labour shortages in the UK.