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Balfour Beatty has announced it will up its spend on SME suppliers by a third to 拢1bn in 2014.

At a press event today Prime Minister David Cameron said the contractor鈥檚 commitment would help the government achieve its goal of 25% of central government spend going to SME businesses by 2015.

The 拢1bn planned spend represents a 33% increase on Balfour Beatty鈥檚 spend on small businesses in 2013.

Cameron said: 鈥淕iving businesses the confidence to invest and create jobs is a key part of our long term economic plan.

鈥淏alfour Beatty鈥檚 commitment to spend a record 拢1bn on small and medium sized businesses this year is very welcome evidence that this plan is working - supporting thousands of jobs within small and medium businesses, which will give hard-working people economic security for the future.鈥�

Nicholas Pollard, chief executive of Balfour Beatty Construction Services UK, said: 鈥淪mall businesses create local jobs and apprenticeships and they are the innovators, engineers and exporters of the future.

鈥淲e are committed to supporting them so that we can build a better Britain together; leaving a lasting legacy in the communities we touch across the UK.鈥�