Construction Booms but at what cost

May #2 Update: Construction Booms, New UK Infrastructure Bank Chief, How to Get Paid, London’s New Skyline

Construction Booms but at what cost

With civil, commercial & housebuilding construction continuing to expand through April and higher transport costs due to Brexit; supply and materials shortages, longer wait times and price rises have been predicted for aggregates, steel, cement and concrete according to a recent HIS Markit survey. Apparently, construction is growing at its strongest rate for 6.5 years or the fastest rise in orders since September 2014! Spurred on by the resumption of delayed Covid contracts, infrastructure work such as HS2, a spike in housing demand and increasing business confidence. This has led to input costs inflation for the seventh month in a row with some EU exporters now no longer exporting to the UK due to the increase in red tape such as admin, bureaucracy and certifications to get deliveries over the border.

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Former Barclays chief appointed head of UK Infrastructure Bank

Former Barclays chief appointed head of UK Infrastructure Bank credit nicholas-doherty via unsplash

Chris Grigg CBE has been appointed head of the organisation which will help UK to achieve net zero emissions target. Headquartered in Leeds, the Bank will receive £22 billion in capital and guarantees with its main goal of transformation delivered in two ways; to raise capital to reverse climate change and to support local developments in line with the Government’s goal of ‘levelling up’. Since the sale of the UK Green Investment Bank to Australian Bank Macquarie in 2012 for £1.6billion, the UK has lacked a public institution to deal with climate. Chris Grigg also sits on the Board of UK defence company BAE systems. For more info on UKIB policy click here.

Contractors: How to get paid for your work

Contractors: How to get paid for your work

A legal webinar recording by Goodman Derrick LLP outlines COVID & Brexit challenges / UK’s new status, in terms of protecting positions, getting paid for your work and problems associated with insolvency. You can watch the recording here.

beable Saves Construction from COVID

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London’s New Skyline

London New Skyline credit dave-xu via unsplash

City of London Corporation has optimistically released what London’s skyline will look like in mid-20s with the addition of 6 new skyscrapers in the square mile that have all received planning permission to date, including 50 Fenchurch Street, 55 Gracechurch Street, 60 Aldgate High Street, 70 Gracechurch Street and 2-3 Finsbury Avenue. With another 6 further tall building applications in progress, London is planning on the city office being here to stay.