Howard Chapman, Buildingtalk Editor reports on the the biggest public sector net borrowing surplus in 17 years and the value of large construction companies is up 9%
Boosted by self-assessment tax receipts, January is usually a strong month for government finances. However, better than expected results show that we have had very good news on the state of government’s finances with Chancellor Hammond’s reporting on nearly ‘£10bn of green shoots’.
The latest Public sector finances bulletin from the Office of National Statistics (ONS) reports the lowest UK year-to-date borrowing since the financial year-to-date ending January 2008. In fact, the public sector net borrowing was in surplus by £9.4 billion, the highest January surplus for 17 years! (Link to full ONS report).
Economists say strong tax receipts mean the government could undershoot the forecast deficit of £68bn for the current financial year. Borrowing for the financial year could be less than £60bn.
Confidence in the UK economy continues to grow and the value of large construction companies is up 9%
A new study from UK business analysts Plimsoll reviewed the financial health of the largest 1500 construction businesses. Their study revealed that the UK’s largest construction companies are growing by an average of 9% in value over the last 12 months.
Though we need to remind ourselves that we are still living in pre-Brexit world, some forecasters are still very optimistic about the outlook for UK finances.
John Hawksworth, chief economist at PwC, said “Overall, the public finances now look in rather better shape than they did three months ago, and more in line with other data showing a relatively robust UK economy in the period since the Brexit vote”.
The latest Builders Merchant Building Index (BMBI) report shows builders’ merchants’ value sales in October were up +1.2% compared to the same month last year.
Posted in Articles, Bathrooms & Toilets, Bricks & Blocks, Building Associations & Institutes, Building Industry News, Building Products & Structures, Building Services, Building Systems, Civil Engineering, Cladding, Concrete, Cement, Admixtures, Drainage, Drainage Services, Floors, Garden, Hand Tools, Hard Landscaping & Walkways, Health & Safety, Heating Systems, Controls and Management, Heating, Ventilation and Air Conditioning - HVAC, Information Technology, Interior Design & Construction, Interiors, Landscaping, news, Paints, Paints, Coatings & Finishes, Pipes, Pipes & Fittings, Plant, Equipment and Hire, Plumbing, Power Tools, Publications, Research & Materials Testing, Restoration & Refurbishment, Retrofit & Renovation, Site Preparation, Sustainability & Energy Efficiency, Timber Buildings and Timber Products, Walls, Waste Management & RecyclingKids’ Village is delighted to have partnered with GEZE UK as their 2025 charity of the year – find out more via the article…
Posted in Access Control & Door Entry Systems, Architectural Ironmongery, Articles, Building Industry Events, Building Industry News, Building Products & Structures, Building Services, Charity work, Doors, Facility Management & Building Services, Health & Safety, Restoration & Refurbishment, Retrofit & Renovation, Security and Fire Protection, WindowsThe Encon Group, the leading independent distributor of building materials, is pleased to announce that it has been awarded Silver membership of The 5% Club by the 2024/25 Employer Audit Scheme.
Posted in Articles, Awards, Bricks & Blocks, Building Associations & Institutes, Building Industry Events, Building Industry News, Building Products & Structures, Building Regulations & Accreditations, Building Services, Building Systems, Civil Engineering, Cladding, Concrete, Cement, Admixtures, Facades, Hard Landscaping & Walkways, Health & Safety, Insulation, Landscaping, Plant, Equipment and Hire, Recruitment, Restoration & Refurbishment, Retrofit & Renovation, Site Preparation, Training, WallsLocated in Charlton, South London, SWA member West Leigh was established during the Blitz, in 1943. During the destruction in London, the company helped in repairing windows and facades that had been damaged by bombings throughout the city.
Posted in Articles, Building Associations & Institutes, Building Industry News, Building Products & Structures, Building Services, Building Systems, Case Studies, Facades, Glass, Glazing, Restoration & Refurbishment, Retrofit & Renovation, Steel and Structural Frames, Walls, Windows