The construction industry is an important component of Guernsey’s economy. It is second only to the dominant financial services industry in terms of contribution to GDP, and it employs more than 3,000 people.

Until last year, the industry had enjoyed a decade of extraordinary growth. The demand for construction, driven mainly by a States of Guernsey that was experiencing strong budget surpluses and investing in numerous major projects without prioritising or phasing them, far exceeded supply.