In a wide-ranging interview with The Herald, Mr Keillor remarked that too many contracts are awarded to companies that pledged to do the job most cheaply.

“What needs to change is that construction contractors need to get paid what they are worth,” he said. “This is a high-risk industry with low margins. People see the massive turnover, but as a business you are only making two, maybe three per cent if you are lucky.”

He added: “The industry is driven by lowest cost, rather than greatest value. And I would suggest it is getting worse.”

Mr Keillor, the third generation of his family to enter the industry, also talks about the level of opportunity offered by the sector, construction’s need to more to attract young people and more women, and talks glowingly of the V&A Dundee project.

The interview is available here.