Confidence boost in UK projects following US/UK trade deal but concerns persist
A new survey has revealed a boost in optimism amongst professionals delivering projects following the announcement of a US/UK trade deal, though some concerns remain about the deal’s longer-term implications.
The vast majority (85%) of respondents are confident in their organisation’s ability to carry out projects following the deal. The survey revealed this was consistent across key sectors in the UK economy, including manufacturing (92%), construction (83%) and automotive (81%).
This renewed confidence is largely driven by two key factors: improved market access and greater regulatory alignment. Over half (51%) of respondents said the deal opened up greater opportunities for trading and enhanced access to suppliers, customers and partners as a key benefit, noting this would significantly improve project feasibility and scalability.
A further 48% pointed to reduced compliance burdens as a result of closer regulatory cooperation, which is expected to streamline project execution and reduce delays.
The findings were revealed in a survey of 250 project professionals, conducted by the Association for Project Management (APM), the chartered membership organisation for the project profession, in partnership with Censuswide.
Projects and project management are a key driver of economic growth in the UK. APM research shows the profession adds £4.73bn to the transport sector, £8.44bn to the manufacturing sector and £33.19bn to the construction sector when measured by Gross Value Added (GVA).
However, not all professionals are convinced. A small minority of just under 5% reported a decline in confidence, citing lingering challenges that could affect delivery outcomes.
Of those who are optimistic, some concerns still remain. Nearly half (48%) of those surveyed expressed worry that the trade deal could disrupt existing relationships with non-US/UK partners, potentially leading to contract renegotiations and supply chain complications.
Another 44% highlighted uncertainty around how the deal will be implemented, suggesting that evolving terms may complicate planning and risk assessments.
When asked about the expected impact on project delivery over the next 12 to 18 months, responses painted a mixed picture. While a third (33%) anticipate improved project delivery, many foresee challenges ahead. These include:
- Projects being reduced in scope due to tighter budgets or fewer resources – 39%
- Projects being completed over budget – 35%
- A reduced focus on net zero goals in project planning – 33%
The shift away from environmental priorities is notable and suggest project professionals are concerned that net-zero targets may take a back seat in light of evolving trade agendas.
Commenting on the findings, Professor Adam Boddison OBE, chief executive of APM, said: “This survey highlights both renewed optimism and ongoing complexities for the projects that drive the UK economy following the UK/US trade deal. Confidence is clearly growing across key sectors, fuelled by better market access and improved regulatory alignment, which is positive to see.
At the same time, it’s important to acknowledge the concerns that remain. Particularly around the stability of global partnerships, evolving implementation details, and the potential sidelining of sustainability goals. These factors will demand agile leadership and careful planning from those delivering projects on the ground.
“As the project landscape grow more complex and becomes more globally connected, the ability to manage short term uncertainty and maintain a focus on long term outcomes is more crucial than ever. These insights reflect a profession that is alert to both opportunity and risk.”