UK construction and property
- Labour | Self-employed labour rates have grown to over £1,000/week. Hudson Contract’s Managing Director commented that “tender opportunities are slowing down but [contractors currently] have full order books, which they are struggling to fulfil.”
- Immigration | The latest survey by the Federation of Master Builders (FMB) shows that industry bosses support a relaxation of immigration laws. Around a third of FMB members are struggling to recruit carpenters/joiners, bricklayers and general labourers
- Super deduction | Aggregate firms are asking the Chancellor to keep the super-deduction tax benefit on new plant and machinery in his Budget next month. The Mineral Products Association believes that an extension would allow companies to invest in low-carbon machinery.
- Retentions | The Government is exploring plans to make contractors publish their retention payment policies and records.
- Building safety | Housing Secretary, Michael Gove, has warned that house builders and developers who fail to sign a government contract which commits them to fixing unsafe towers, will be banned from the market.
- Carbon | 49% of directors plan to accelerate their delivery of net-zero programmes over the next year, according to a survey by the British Property Federation. 28% expect to maintain investment programmes while just 2% expect to decrease levels.
- PMI | The latest survey dropped to 48.4, from 48.8 in December, its lowest level since May 2020.